I am having trouble on one of my homework questions. The financial statements for Intel are provided and the questions are listed in the attachment.

INTEL CORPORATION CONSOLIDATED STATEMENT OF INCOME Particular 2012 2011 net revenue 53341 53999 cost of sale 20190 20242 gross margin 33151 33757 research and development 10148 8350 marketing general and adminitarative 8057 7670 amortization of acquisitioin related intangable 308 260 operating expenses 18513 16280 operating income 14638 17477 gains on other equity investment 141 112 interest and other, net 94 192 income before tax 14873 17781 provision for taxes 3868 4839 net income 11005 12942 2010 46623 15132 31491 6476 6309 18 12803 15588 348 109 16045 4581 11464 INTEL CORBORATION consolidated balance sheet Particular asets current assets cah and cash equivalents short-term investment trading assets accounts receivable inventory deferred tax assets othercurrent assets total current assets property plant and equibment marketable equity securites other long-term investment good will identifed intangable assets total assets liabilities current liabilities short-term debt account payable accured compensation and benefits accured advertising deferred income other accrued liabilities total current liabilities long-term deferred tax liabilities other long-term liabilities stockholders equity common stock (10000 ,4944,0.001) accumulated other comprehensive income retained earnings total stockholders equity total liabilities and tickholder equity 2012 2011 8478 3999 5685 3833 4734 2117 2512 31358 27983 4424 493 9710 6235 4148 84351 5065 5181 4591 3650 4096 1700 1589 25872 23627 562 889 9254 6267 4648 71119 312 3023 2972 1015 1932 3644 12898 13136 3412 3702 19464 -399 32138 51203 84351 247 2956 2948 1134 1929 2814 12028 7084 2617 3479 17036 -781 29656 45911 71119 NOA= operating assets - operating liabilities ( total assets - cash & investment)- (total liabilities - long term debt) 84351 24366 108717 84351 13448 97799 10918 (b) Compute net operating profit after tax (NOPAT) for 2010, assuming a federal and state statutory tax rate of 37%. NOPAT = OPERATING INCOME *(1- Taxrate) Operating income 14638 141 14779 9311 INTC Sales NOPAT NOA INTC Dcf model increaseNOA FCFF Dicsount factor percent value of horzon FCFF cumperent value of hrizon fcf persent value of terminal fcf total firm valu pluse negative NNO firm equity value shares outstanding stock proce per share report 2012 53,341 9311 10918 report 2012 8478 84351 92829 9138 83691 4944 16.93 forecast horizon 2013 2014 2015 56893 60601 64.613 9446 9581 9716 Terminal 2016 period 68759 69740 9851 9986 12244 16222 13570 14896 forecast horizon 2013 2014 2015 10918 10918 10918 1607 10918 10918 17548 Terminal 2016 period 10918 10918