Valuation Using the PB Multiple The following table provides summary data for Cerner Corporation and its competitors, Eclipsys Corporation and McKesson Corporation, (in millions) Center Eclipsys McKesson Company assumed value $1,140 $17,519 Equity assumed value $1,140 $15,570 Net operating assets $1,328 $228 $8,454 Book value of equity $1,132 $228 $6,505 Net nonoperating obligations (assets) $196 SO $1,949 Common shares outstanding 80.4 shares 54.0 shares 288.8 shares (a) Compute the PB ratio for both Eclipsys and McKesson. (Round your answers to two decimal places.) Eclipsys 0 McKesson 0 (b) Use Eclipsys and McKesson as comparables, along with the rounded PB ratios from part (a), and then estimate for Cerner its equity intrinsic value and its equity intrinsic value per share. (Round the equity intrinsic value to the nearest million and the value per share to the nearest cent.) Average of the two rounded ratios in (a) above 0 (Round to two decimal places.) Using the rounded average calculated above, calculate the following: Equity intrinsic value $ 0 million Equity intrinsic value per share $ 0 1