(a) Compute the price to NOPAT ratio for both Kohl's and Wal-Mart.

Round your answers totwo decimal places.

(b) Use Kohl's and Wal-Mart as comparables, along with the company value to NOPAT ratios from part (a), and then estimate for Target its company intrinsic value, its equity intrinsic value, and its equity intrinsic value per share.

Round the intrinsic value and equity intrinsic value to the nearest million and the value per share to the nearest cent.

(c) Compute the price to net income ratio for both Kohl's and Wal-Mart.

Round your answers totwo decimal places.

(d) Use Kohl's and Wal-Mart as comparables, along with the equity to net income ratios from part (c), and then estimate for Target its equity intrinsic value and its equity intrinsic value per share.

Round the equity intrinsic value to the nearest million and the value per share to the nearest cent.