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To value a non-dividend-paying firm, the terminal value used in the valuation calculation will most...

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Accounting

To value a non-dividend-paying firm, the terminal value used in the valuation calculation will most likely be based on a(n):

-subjective value determined by the firms senior managers.

-salvage value of zero.

-target ratio.

-pure play rate of return.

-expected book value of equity.

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