in part b how do you calculate TERMINAL PERIOD & PRESENT VALUE OF TERMINAL ROPI ?

thank you

Estimating Share Value Using the ROPI Model Following are forecasted sales, NOPAT, and NOA for AT&T for 2019 through 2022 a. Forecast the terminal period values assuming a 2% terminal period growth rate. Round answers to the nearest dollar. Reported Forecast Horizon S millions 2018 2019 2020 2021 Terminal Period Sales $170.756 $181,001 $191.861 $203,373 $215,576 $ 219,887 NOPAT 20,895 22,082 23,407 24,812 26,300 $ NOA 390.931 414,387 439,251 474,918 2022 26.826 369,039 465,607 5 b. Estimate the value of a share of AT&T common stock using the residual operating income (ROPI) model as December 31, 2018; assume a discount rate (WACC) of 5.7%, common shares outstanding of 7,281.6 million, nonoperating obligations (NNO) of $175,155 million, and noncontrolling interest (NCI) from the balance shee $9,795 million. Rounding instructions: Use rounded answers for subsequent computations. Round answers to the nearest whole number unless otherwise noted (do not round shares outstanding). Round discount factor to 5 decimal places and stock price per share to two decimal places. Do not use negative signs with your answers. Forecast Horizon Terminal S millions 2019 2021 Period ROPI (NOPAT - [NOABeg x rw]) 1.192 1.263 Discount factor [1/(1+rwit] 0.89506 Present value of horizon ROPI 1.009 Present value of horizon ROPI $ Present value of terminal ROPI NOA 369,039 Total firm value NNO 175.155 9.795 Firm equity value Shares outstanding 7.281.6 Stock value per share 2022 2020 1.124 5 $ 286 1.047 $ 0.94607 991 0.84679 1.006 0.80112 1,012 4,018 6,192 379,249 NCI $ $ 194,299 $ 26.68