Please model cash flows for American Greetings for fiscal years 2012 through 2015 based on the two sets of ratios in case Exhibit 8. Based on the discounted cash flows associated with the forecast, what is the implied enterprise value of American Greetings and the corresponding share price?

Exhibit 8 American Greetings Financial Forecast Assumptions Note: The ratios are defined in the following manner: Revenue Growth is the annual percentage change in total revenue, Operating Margin is operating income divided by total revenue, Net Working Capital Turnover is total revenue divided by net working capital where net working capital is current assets less current liabilities, Fixed Asset Tumover is total revenue divided by net PP\&E and other assets. Data source: Case writer estimates. Exhibit 8 American Greetings Financial Forecast Assumptions Note: The ratios are defined in the following manner: Revenue Growth is the annual percentage change in total revenue, Operating Margin is operating income divided by total revenue, Net Working Capital Turnover is total revenue divided by net working capital where net working capital is current assets less current liabilities, Fixed Asset Tumover is total revenue divided by net PP\&E and other assets. Data source: Case writer estimates