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What is the second step to take in order to apply a recursive approach?
Equity Capital
Equity capital is the amount of money that is invested into a company by its owners in exchange for shares of ownership.
Competitive Dynamics
The ongoing actions and responses between companies competing within the same market or industry.
Future Free Cash Flows
Projected amounts of cash that a company will generate after accounting for capital expenditures, which are available for distribution to stakeholders.
Business Strategy
A plan or series of decisions that aim to achieve specific business objectives and secure a competitive position in the market.
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