24. Following are nancial statement numbers and select ratios for Target Corp. for the scal year 2016 (ending January 28, 2017). Current Forecast Horizon _ Terminal ($ millions) 2016 2017 2018 2019 2020 Year Total revenues $69,495 $71 1580 $73,727 $75,939 $78,217 $78,999 Net operating prot after tax (NOPAT) 3,302 3,436 3.539 3,645 3,754 3,792 Net operating assets (NOA) 21,128 21 ,757 22,409 23,082 23,774 24,012 Forecast assumptions and other nancial information for Target are as follows: Revenue growth 3% Net operating prot margin (NOPM) 4.8% Net operating asset turnover (NOAT) 3.29 Terminal growth rate 1% Discount rate 7% Shares outstanding in millions 556.2 Stockholders' equity $10,953 Net nonoperating obligations (NNO) $10,175 Use the residual operating income (ROPI) model to estimate the value of Target's equity, per share at scal year-end