Valuation - When you discount the Terminal Value and when not too

CFA Level II Equities
#1

I am having trouble determining when to discount the terminal value by the required return and when not to.

Am I missing the part of the question where it differentiates the time differences? why accept a value one way and not the other?

This might be obvious to others but I am struggling with the difference, would appreciate some help.

#2

Almost in every instsnce. Can you share a specific instance where u faced problem

#3

If you are asked to determine The Terminal Value, Then you should only do D/(r-g), if you’re asked to calculate The Present value of The terminal value you should discount using The required return