The terminal value represents a. the value at the point in time prior to accelerated growth. b. value at the point in time in which growth stops. c. the value at the point in time in which the business is in a stabilized and sustainable condition. d. the value obtained using the discounted future benefits method.

Mandalay hotel bases its budgets on guest-days. the hotel's static budget for august appears below: budgeted number of guest-days 4,300 budgeted variable costs: supplies (@$9.60 per guest-day) $ 41,280 laundry (@$9.40 per guest-day) 40,420 total variable cost 81,700 budgeted fixed costs: wages and salaries 57,190 occupancy costs 52,030 total fixed cost 109,220 total cost $ 190,920 the total cost at the activity level of 5,200 guest-days per month should be: