问题如下：
6. The most appropriate response to Wright’s question about the technological development is to:
选项：
A.decrease the required return.
B.decrease the price-to-earnings multiple.
C.increase the perpetual growth rate.
解释：
B is correct.
If the future growth or profitability of a company is likely to be lower than the historical average (in this case, because of a potential technological development), then the target multiple should reflect a discount to the historical multiple to reflect this difference in growth and/or profitability. If a multiple isused to derive the terminal value of a company, the choice of the multiple should be consistent with the long-run expectations for growth and required return. French tells Wright he believes that such a technological development may have an adverse impact on Archway beyond the forecast horizon.
如果说科技对于公司的影响是负面的，EPS下降，P/E ratio 不是应该上升吗？ 而且没有办法来预测说，到那个时候是否price in 了公司的value。
此外，对于A选项，由于科技对于公司的冲击是负面的，要求的回报率是会降低啊。
当然，如果从题目本身之前的条件，来硬选，也似乎只有B特别牵强
