Forecasting and Estimating Share Value Using the DCF Model Following are the income statement and balance sheet for Intel Corporation.

Net revenue	$ 45,223	$ 35,127	$ 37,586
Cost of sales	15,132	15,566	16,742
Gross margin	30,091	19,561	20,844
Research and development	6,576	5,653	5,722
Marketing, general and adminstrative	6,309	7,931	5,452
Restructuring and asset impairment charges	--	231	710
Amortization of acquisition-related intangibles	18	35	6
Operating expenses	12,903	13,850	11,890
Operating income	17,188	5,711	8,954
Gains (losses) on equity method investments, net	117	(147)	(1,380)
Gains (losses) on other equity investments, net	231	(23)	(376)
Interest and other, net	109	163	488
Income before taxes	17,645	5,704	7,686
Provisions for taxes	4,581	1,335	2,394
Net income	$ 13,064	$ 4,369	$ 5,292

Assets
Current assets
Cash and cash equivalents	$ 5,998	$ 3,987
Short-term investments	11,294	5,285
Trading assets	5,093	4,648
Accounts receivables, net	3,167	2,273
Inventories	3,757	2,935
Deferred tax assets	1,888	1,216
Other current assets	1,614	813
Total current assets	32,811	21,157
Property, plant and equipment, net	17,899	17,225
Marketable equity securities	1,008	773
Other long-term investments**	3,026	4,179
Goodwill	4,531	4,421
Other long-term assets	5,111	5,340
Total assets	$64,386	$53,095
Liabilities
Currnet liabilities
Short-term debt	$38	$172
Accounts payable	2,190	1,883
Accrued compensation and benefits	2,888	2,448
Accrued advertising	1,007	773
Deferred income on shipments to distributors	622	593
Other accrued liabilities	2,482	1,722
Total current liabilities	9,227	7,591
Long-term income taxes payable	190	193
Long-term debt	1,677	2,049
Long-term deferred tax liabilities	926	555
Other long-term liabilities	1,236	1,003
Total liabilities	13,256	11,391
Stockholders' equity:
Preferred stock, $0.001 par value	--	--
Common stock, $0.001 par value, 10,000 shares authorized; 5,581 issued and 5,511 outstanding and capital in excess of par value	16,178	14,993
Accumulated other comprehensive income (loss)	333	393
Retained earnings	34,619	26,318
Total stockholders' equity	51,130	41,704
Total liabilities and stockholders' equity	$ 64,386	$ 53,095

** These investments are operating assets as they relate to associated companies. (a) Compute Intel's net operating assets (NOA) for year-end 2010. 2010 NOA = $Answer

(b) Compute net operating profit after tax (NOPAT) for 2010, assuming a federal and state statutory tax rate of 37%.(Round your answer to the nearest whole number.)

2010 NOPAT = $