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Joey Corp. has 200 million ordinary shares outstanding with a current market value of $3 billion. The company is contemplating undertaking an investment project that

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Joey Corp. has 200 million ordinary shares outstanding with a current market value of $3 billion. The company is contemplating undertaking an investment project that requires an initial cash outflow of $200 million and whose internal rate of return is equal to the company's cost of capital. If capital markets fully reflect the value of undertaking the project, what is the most likely value of the company's shares? $14. $15. There is not enough information to make a determination on the share price. O $16

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