UNO Entertainment Group releases its financial reports for the fiscal year ended on 31^st December, 2020. The following information may be gleaned from the 2020 income statements of UNO Entertainment Group (in $ million).

Sales 546.57

NOPAT 16.57

NIEAT 0.09

Net income 16.48

Number of shares outstanding is 2.127 (in million) on 31^st December 2020. Using a valuation model as appropriate, calculate the value per equity share for UNO Entertainment Group at 31^st December 2020. Present your answer in MS-Excel and upload the file separately.

Use all decimal places in your calculation. In other words, do not use rounded numbers in your calculation. However, for presentation, you may format your results using two decimal places.

Your estimation is performed based on several additional assumptions:

• The forecast horizon is for five years (from 2021 to 2025)
• Net Operating Asset (NOA) turnover ratio (using beginning-of-the-year balance sheet data) for 2021 and 2025 is equal to 0.61
• Net financial leverage at the end of each year in the forecast horizon is equal to 0.95 (the same level holds in the end of 2020)
• NIEAT is 0.09 for each year in the forecast horizon
• Sales growth is 24% for 2021, 22% for 2022, 23% for 2023, 21% for 2024, and 22.5% for 2025
• NOPAT margin is assumed to be constant for each year in the forecast horizon at 2020 level
• Risk-free rate is 1%, market index return 5%, and Beta 0.3
• Long-term abnormal earnings growth rate is 2% (after the forecast horizon)