In recent court cases, a number of technical issues have arisen in determining appropriate discount rates for use in the discounted cash flow approach to valuation. This article examines three issues, reviews the literature about the issues, and summarizes the key considerations.
Income approach to value
Heaton, H. (2007). On the use of size premiums, arithmetic or geometric average returns, and liquidity premiums in determining discount rates. Journal of Property Tax Assessment & Administration, 4(4), 5-12. Retrieved from https://researchexchange.iaao.org/jptaa/vol4/iss4/1