Describe the benefits of a scenario DCF valuation model.

1) In most cases, book value reasonably approximates the current market value. This will not be the case in what type of situation(s)? 2) Define purchasing power parity. What is the importance of purchasing power parity when you are trying to establish value for a company located in an emerging market? 3) Describe the benefits of a scenario DCF valuation model. What factors should be considered when constructing scenario parameters?