Confused on these two technical questions: 1) DCF projection period for commodity company 2) Debt used to calculate EV

1) Would you use a ten year or a 20 year projection period for a DCF for a commodity company?

*I was thinking since commodity companies can be cyclical industries, a longer forecast period could make sense... but I've never heard of a 20 year DCF before.

and

2) Would you use debt from the balance sheet or from the cash flow from financing section to calculate EV? Would the cash flow statement debt provide more time sensitivity?

Thank you in advance.

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