Valuation of Carrefour’s international business. In addition to all of its stores in France, Carrefour (a real French company) has 24 hypermarkets in Argentina, 85 in Brazil, 27 in Mexico, 41 in China, 27 in Korea; a total of 1,207 stores in 30 countries. Consider the value of Carrefour as being composed of two parts, a euro area part and a non-euro area part. Explain how to determine the present value (in euros) of the non-euro area part assuming that you had access to all the details of Carrefour businesses outside the euro area.