In Which of the Following Situations Would It Not Be

In which of the following situations would it not be appropriate to use the following formula: PV = C₀ + C₁/(1 + r) + C₂/(1 + r) ² + . . . . + C_n/(1 + r) ⁿ
When determining the present value (PV) of a cash flow stream?

A) when yield curves are flat
B) when short-term and long-term interest rates vary widely
C) when the inflation rate is high
D) when the discount rate is high

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