Latcher's is a relatively new firm that is still in a period of rapid development. The company plans on retaining all of its earnings for the next six years. Seven years from now, the company projects paying an annual dividend of $.25 a share and then increasing that amount by 3 percent annually thereafter. To value this stock as of today, you would most likely determine the value of the stock years from today before determining today's value.

Which maxim is being neglected in the following conversation? eli: how did you do at the track meet? caleb: i came in second place! eli: congratulations! what was your time? caleb: six minutes, four seconds. the guy who won only beat me by three seconds. eli: really? katie said the winning time was under 6 minutes. caleb: oh, well, he might have beat me by five seconds. a)maxim of quantity b)maxim of quality c)maxim of relevance d)maxim of manner