You are valuing ABC in 2020. You discounted the terminal value and the next 5 years of projected cash flows to arrive at $30107 and $8096, respectively. If the value of debt is 2200, cash 110, executive options at 899 and unutilized real estate of 5421. There is 1000 shares outstanding. What is the intrinsic value of equity?

1) 29.8

2) 42.4

3) 50.2

4) 40.6