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According to the nonconstant growth model discussed in the textbook, the discount rate used to find the present value of the expected cash flows during the initial growth period is the same as the discount rate used to find the PVs of cash flows during the subsequent constant growth period.
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Legislation designed to promote competition and prevent monopolies, oligopolies, and other practices that reduce market competition.
Microsoft
A global technology company known for its software products, including the Windows operating system and the Office suite.
Sherman Antitrust Act
A landmark federal statute passed in the United States in 1890 that outlawed monopolistic business practices.
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