单项选择题

The best description of the measure of cash flow to use when estimating the total value of a firm is:

A．the operating free cash flow prior to interest payments on debt.
B．the operating free cash flow prior to interest payments on debt but after deducting funds needed for capital expenditures.
C．the operating free cash flow after adjustment for payments to debt holders, but before dividend payments to common stockholders.

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单项选择题An analyst gathers the following data for a company to estimate the expected growth rate of dividends and use it as an input for valuing the company s common stock. return on assets (ROA)10%profit margin5%financial leverage1.67payout ratio25%The company s expected growth rate is closest to:

A．4.2%
B．6.3%
C．12.5%

单项选择题A stock s P E ratio based on the DDM is which of the following

A．(1-RR)/(ke-RR×ROE)
B．(1+RR)/(ke-RR×ROE)
C．(1-RR)/(ke+RR×ROE)