Consider the following data for NikeInc.: In 2018, it had $36,397.00 million in sales with a 15% growth rate in 2019, but then slows by 2% to thelong-run growth rate of 5% by 2024. Nike expects EBIT to be 13% ofsales, increases in net working capital requirements to be 5% of any increases insales, and capital expenditures to equal depreciation expenses. Nike also has $525 million incash, $38 million indebt, 1,626 million sharesoutstanding, a tax rate of 25%, and a weighted average cost of capital of 9%.

Suppose you believeNike's initial revenue EBIT margin will be between 12% and 14% of sales. What range of prices for Nike stock is consistent with theseforecasts?

The range of prices willbe:

Highest price pershare:

Lowest price pershare: