Following are forecasts of sales, net operating profit after tax (NOPAT), and net operating assets (NOA) as of December 31, 2013 for Stellar Stores, Inc.

		Horizon Period
(in millions)	Reported 2013	2014	2015	2016	2017	Terminal Period
Sales	$37,006	$44,777	$54,180	$65,558	$79,325	$80,912
NOPAT	1,292	1,563	1,891	2,288	2,768	2,824
NOA	10,007	102	14,643	17,718	21,439	21,868

Assuming a terminal period growth rate of 2%, a discount rate (WACC) of 8%, common shares outstanding of 814.3 million, and net nonoperating obligations (NNO) of $1,676 million, estimate the value of a share of Stellar common stock using the discounted cash flow (DCF) model as of December 31, 2013.

Select one:

a. $31.06

b. $32.95

c. $23.59

d. $25.23

Please explain how-thank you!