FIRST PRINCIPLES OF VALUATION
As always, we could use our less cluttered common stock version of the general asset valuation equation: V S = P 0 = D 1 1 + r 1 + D 2 1 + r 2 + D 3 1 + r 3 + D 4 1 + r 4 + D 5 1 + r 5 + D 6 1 + r 6 + … + D 10,000 1 + r 10,000 ................
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