=+Green ple has demonstrated an equity beta of 1.3 over the past five years (and this can be taken as an appropriate adjustment factor to the average risk premium for shares over risk-free securities). The risk-free return is currently 6.5 per cent and the risk premium for equities over risk-free securities has averaged 5 per cent per annum.

Shares in issue: 300 million (constant for the last ten years).

Required a

Calculate a net asset value for each of Green's shares after adjusting the balance sheet for the following: