So what this means is that the terminal rate in calendar year 26 is actually higher by 50 bps which is nothing but the 50 bps of rate cuts which were taken away from calendar year 24 estimates.
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So what this means is that the terminal rate in calendar year 26 is actually higher by 50 bps which is nothing but the 50 bps of rate cuts which were taken away from calendar year 24 estimates.
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