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2Here and elsewhere, we use the term capital gains a little loosely. For the record, a capital gain (or loss) is, strictly speaking, something defined by the IRS. For our purposes, it would be more accurate (but less common) to use the term price appreciation instead of capital gain.

Ross et al.: Fundamentals of Corporate Finance, Sixth Edition, Alternate Edition

III. Valuation of Future Cash Flows

8. Stock Valuation

© The McGraw-Hill Companies, 2002

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