Conduct a standalone valuation of Apple, Inc. (Stock Symbol: AAPL) using three different methods to obtain estimates of potential stock value. Analyze your results and provide a recommended range of likely stock values to begin merger negotiations with Apple. You may turn in your work in either Word or Excel, or both, as long as all answers are clearly labeled and ALL work is shown. Some required estimates for the valuation are provided to you below, and some must be researched.

1. (15 pts) Compute Accounting Book Value per share of Apple, Inc. using Apple's 10-K financial statements ended September 26, 2020. These can be located at: https://www.sec.gov/edgar/browse/?CIK=320193&owner=exclude. Then, click on the 10-K "+" sign on the right side of the page, locate the document, and click on it to open it. Use "shares outstanding" to compute the book value share price.