问题如下：
2. Logan’s best response to the supervisor’s question concerning the sensitivity of the enterprise value to the terminal growth rate assumption, is closest to:
选项：
A.–36.5%.
B.–28.5%.
C.–24.8%.
解释：
B is correct.
Terminal value at 5 percent: 7(1.05)/(.15 – .05) = 73.50M
Terminal value at 0 percent: 7/.15 = 46.67M
Change in present value: (46.67 – 73.50)/1.153 = – 17.64
Percentage change: – 17.64/61.8 = – 28.5%
老师请问这题怎么不是分别将growth rate等于5%和0%得到的Terminal Value折到0时刻后两者做差得到变动值，就是5% growth rate Terminal Value=73.5m，折现到0时刻是48.33m, 0% growh rate Terminal Value=70m, 折现到0时刻是46.03m, (46.03-48.33)/61.8=-3.72%
