Valuation Using the PE Multiple The following table provides summary data for Applied Materials Inc. and its competitors, KLA Tencor Corporation and Lam Research Corporation. (in millions) Company assumed value Equity assumed value NOPAT Applied Materials KLA Tencor Lam Research $9,568 $11,307 $8,765 $13,022 $1,444 $440 $674 Net income $1,377 $298 $588 Net nonoperating obligations (assets) $(1,369) $803 Common shares outstanding 1,160.0 157.9 $(1,715) 158.5 a. Compute the price to net income ratio for both KLA Tencor Corporation and Lam Research Corporation. Round answers to two decimal places, when applicable. KLA Tencor Lam Research Price to Net income ratio 0 0 b. Use KLA Tencor Corporation and Lam Research Corporation as comparables, along with the price to net income ratios from part a, and then estimate for Applied Materials Inc. its equity intrinsic value and its equity intrinsic value per share. Round equity intrinsic value to the nearest million. . Round equity intrinsic value per share to two decimal places. Applied Materials Equity intrinsic value $ 0 million Equity intrinsic value per share $ 0 Check