A very good evening to everyone!!!
May I know what is the purpose for choosing a discount rate? (For example if you want to valuate a SG stock you will use CPF SA rate which is 4)
Is it because of you need to use the discount rate to pluck into the discount factor formula to find the discount factor and with the discount factor, you are able to bring the projected company cash flow from future value to present value ??
Hope to hear from you soon