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Based on the corporate valuation model, the value of a company s operations is $ 1 , 7 0 0 million. The company s balance

Based on the corporate valuation model, the value of a companys operations is $1,700 million. The companys balance sheet shows $80 million in accounts receivable, $60 million in inventory, and $100 million in short-term investments that are unrelated to operations. The balance sheet also shows $90 million in accounts payable, $230 million in notes payable, $700 million in long-term debt, $130 million in preferred stock, $180 million in retained earnings, and $800 million in total common equity. If the company has 40 million shares of stock outstanding, what is the best estimate of the stocks price per share?

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