1) You would like to estimate a per-share value of ABC, Inc. Your estimate of the present value of ABC’s future free cash flows from operations is $741 million. The book value of its assets is $849 million. The value of debt and lease obligations are $229 million and $86 million, respectively. ABC Inc. also has cash holdings (non-operating assets) of $34 million. There are 5 million shares outstanding.

What is the equity value per share of ABC, Inc.?

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