Lizo is a public company with the following characteristics (in the most recent year): - At the start of the year, the firm had book value of equity of $400 million, debt outstanding (book value as well as market value) of $200 million, and cash balance of $100 million. These numbers did not change during the most recent year. - The cost of capital for the firm is 6% next year, 8% the year after and 9% thereafter (in perpetuity). - Shares outstanding: 200 million - After-tax operating income: $100 million - Revenues: $800 million d) Lizo has 50 million options outstanding. Assume that the market value of each option is $5. Using the market value approach, estimate the value per share for Lizo today.