问题如下：
which of the following discount rate is appropriate for discounting cash flow to equity in valuation?
选项：
A.WACC
B.the required return on equity
the firm’s cost of capital.
解释：
Being used as discount rates in valuation, required returns need to be defined appropriately relative to the cash flows to be discounted.When a cash flow to equity is discounted, the required return on equity is an appropriate discount rate.
cost of capital 折什么？
