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Can someone help with the following: Following are financial statement numbers and select ratios for Target Corp. for the fiscal year 2013 (ending February 1,

Can someone help with the following:

Following are financial statement numbers and select ratios for Target Corp. for the fiscal year 2013 (ending February 1, 2014).

Current

Forecast Horizon

Terminal Year

($ millions)

2013

2014

2015

2016

2017

Total revenues

72,596

75,645

78,822

82,133

85,582

88,150

Net operating profit after tax (NOPAT)

2,680

2,799

2,916

3,039

3,167

3,262

Net operating assets (NOA)

29,318

30,502

31,783

33,118

34,509

35,544

Forecast assumptions and other financial information for Target are as follows:

Revenue growth

4.2%

Net operating profit margin (NOPM)

3.7%

Net operating asset turnover (NOAT)

2.48

Terminal growth rate

3%

Discount rate

6%

Shares outstanding in millions

633.2

Stockholders' equity

$16,231

Net nonoperating obligations (NNO)

$13,087

a. Use the residual operating income (ROPI) model to estimate the value of Targets equity, per share at fiscal year-end.

b. Target Corp. shares closed at $56.64 per share on February 1, 2014. How does your valuation compare with this closing price?

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