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| Which of the following is the most accurate statement related to estimating the discount rate for Smith’s valuation of Timber Industries: A. Timber Industries should be valued using the WACC for Timber Industries, not the WACC of the acquirer Lumber Limited. B. As a private firm, Timber Industries can more easily obtain cheap debt financing than a public firm. C. It is more straightforward to estimate the discount rate for early stage firm than a mature firm like Timber Industries. |