Based on the corporate valuation model, the value of ABC Company’s operations is $1,357 million. The company's balance s

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Based on the corporate valuation model, the value of ABC
Company’s operations is $1,357 million. The company's balance sheet
shows $80 million in accounts receivable, $60 million in inventory,
and $100 million in short-term investments that are unrelated to
operations. The balance sheet also shows $90 million in accounts
payable, $120 million in notes payable, $338 million in long-term
debt, $53 million in preferred stock, $180 million in retained
earnings, and $800 million in total common equity.
If ABC Company has 39 million shares of common shares
outstanding, what is the best estimate of the stock price per
share? Round your answer to two decimal places of dollar, but
ignore dollar and million in your answer, e.g., xx.xx. (Hint: Refer
to numerical examples in Corporate Valuation Model.)