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Hawkins Lab and Tech is a firm with 100 million shares outstanding. Current share price is $20/share. The firm has $1,000 mm in debt outstanding,

Hawkins Lab and Tech is a firm with 100 million shares outstanding. Current share price is $20/share. The firm has $1,000 mm in debt outstanding, $500 mm in excess cash and 20 million employee stock options. The value of the options is $5/share. Assuming the firm is fairly priced, what is the estimated value of the firms operating assets.

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