15-3: Light Feet Corporations value of operations is estimated to be about $800 million. The compay has $160 million in debt. It has no preferred stock, but has 25 million shares of stock outstanding. It Feet has decided to distribute $60 million, which it presently is holding in short-term investments. Assume that the company has not yet made the distribution. What is the intrinsic value of equity? What is its intrinsic per share stock price? Now suppose that the company has just made the $60 million distribution in the form of dividends. What is Light Feets intrinsic per share stock price after this dividend payment? Suppose instead that the company just made the $60 million distribution in the form of a stock repurchase. What is its intrinsic per share stock price after the repurchase?