As of February 2010, what is your assessment of the worth of Wal-Marts stock? Utilize all the methods discussed in the case to value the shares, including the following:

The perpetual growth in dividends: P0 =D1/(Keg), g = (1 p) Ke, Ke =D1/P0 +g

Forecasted dividends for the next several years plus sale of the stock in the future:

P0 =D1/(1+Ke)1+D2/(1+Ke)2 +....+Dn/(1+Ke)n +Pn/(1+Ke)n

1 Date WMT SPX 12/1/09 53.45 1,115 11/2/0954.55 1,096 10/1/09 $49.68 1,036 49.09 1057 8/3/09$50.871,021 7/1/09 $ 49.88 987 6/1/09 $48.44919 5/1/09 $49.74919 4/1/09 50.40 873 3/2/09 52.10798 2/2/09$49.24 735 1/2/09 $47.12 826 12/1/08 $56.06 903 896 10/1/08$55.81 969 9/2/08 $59.891,166 8/1/08 $59.071,283 7/1/08$58.621,267 6/2/08$56.20 1,280 5/1/0857.741,400 4/1/08 $57.981,386 3/3/08 $52.681,323 2/1/08 49.591,331 1/2/08 $ 50.74 1,379 12/3/07 47.53 1,468 11/1/07 47,90 1,481 10/1/07 $45.21 1,549 9/4/07 $43.651,527 8/1/07 $43.631,474 45.95 1455 6/1/07 $48.111,503 5/1/07 47.60 1,531 4/2/07 $47.921,482 3/1/07 $46.951,421 21/07 $48.311,407 1/3/07 $47.691,438 12/1/06 46.181,418 11/1/06 46.10 1,401 10/2/06 $49.281,378 9/1/06 $49.321,336 8/1/06 $44.721,304 713/06 $44.501,277 6/1/06 $48.171,270 5/1/06$48.45 1,270 45.03 1,311 3/1/06$47.241,295 2/1/06 45.36 1,281 1/3/06 $46.111,280 46.80 1248 100 $90 $80 $70 $60 $50 $40 $30 $20 $10 S0 1,800 1,600 1,400 1,200 1.000 4 9/1/09 800 11/3/08 55.88 600 400 200 7/2/07 35 37 47.69 1438 39 15 4/3/06 49 121/05 1 Date WMT SPX 12/1/09 53.45 1,115 11/2/0954.55 1,096 10/1/09 $49.68 1,036 49.09 1057 8/3/09$50.871,021 7/1/09 $ 49.88 987 6/1/09 $48.44919 5/1/09 $49.74919 4/1/09 50.40 873 3/2/09 52.10798 2/2/09$49.24 735 1/2/09 $47.12 826 12/1/08 $56.06 903 896 10/1/08$55.81 969 9/2/08 $59.891,166 8/1/08 $59.071,283 7/1/08$58.621,267 6/2/08$56.20 1,280 5/1/0857.741,400 4/1/08 $57.981,386 3/3/08 $52.681,323 2/1/08 49.591,331 1/2/08 $ 50.74 1,379 12/3/07 47.53 1,468 11/1/07 47,90 1,481 10/1/07 $45.21 1,549 9/4/07 $43.651,527 8/1/07 $43.631,474 45.95 1455 6/1/07 $48.111,503 5/1/07 47.60 1,531 4/2/07 $47.921,482 3/1/07 $46.951,421 21/07 $48.311,407 1/3/07 $47.691,438 12/1/06 46.181,418 11/1/06 46.10 1,401 10/2/06 $49.281,378 9/1/06 $49.321,336 8/1/06 $44.721,304 713/06 $44.501,277 6/1/06 $48.171,270 5/1/06$48.45 1,270 45.03 1,311 3/1/06$47.241,295 2/1/06 45.36 1,281 1/3/06 $46.111,280 46.80 1248 100 $90 $80 $70 $60 $50 $40 $30 $20 $10 S0 1,800 1,600 1,400 1,200 1.000 4 9/1/09 800 11/3/08 55.88 600 400 200 7/2/07 35 37 47.69 1438 39 15 4/3/06 49 121/05