Suppose IWT has decided to distribute $50 million, which it presently is holding in liquid short-term investments. IWTs value of operations is estimated to be about $1,937.5 million; it has $387.5 million in debt and zero preferred stock. As mentioned previously, IWT has 100 million shares of stock outstanding.

Assume that IWT has not yet made the distribution. What is IWTs intrinsic value of equity? What is its intrinsic stock price per share?