NO.PZ2018103102000096
问题如下：
Which of the following situations is appropriate to use the three stage model with the second and third stages being treated as an H-model?
Situation 1: Company A`s current annual dividend growth rate is 12%. After five years, the dividend growth will likely decline linearly over four years before stabilizing at a mature growth rate.
Situation 2: Company B will experience a highly growth of 10% at the first two years, followed by a relative higher growth period of 5% in the another two years. Thereafter, the dividend growth rate would be 3% per year into the indefinite future.
Situation 3: Dividends of Company C are expected to grow at a rate associated with the nominal GDP growth after the following five years.
选项：
A.Situation 1
B.Situation 2
C.Situation 3
解释：
A is correct.
考点：H-model
解析：Company A前五年增长率稳定在12%，然后以线性速度下降直到长期平均增长水平。符合H-model的适用范围。
只要有下降就适用H model？可以这么理解吗？
