7. Which of the following is NOT a step in valuation using the flow to equity method?

A、Determinetheequitycostofcapital,r
E、;
B、Computetheequityvalue,E,bydiscountingthefreecashflowtoequityusingtheequitycostofcapital.;
C、Determinethefreecashflowtoequityoftheinvestment.;
D、Determinethebefore-taxcostofcapital,rU.