Question: Based on the corporate valuation model, the total corporate value of Chen Lin Inc. is $600 million. Its balance sheet shows $110 million in notes

Based on the corporate valuation model, the total corporate value of Chen Lin Inc. is $600 million. Its shows $110 million in notes payable, $90 million in long-term debt, $20 million in preferred stock, $140 million in retained earnings, and $280 million in total common equity. If the company has 25 million shares of stock outstanding, what is the best estimate of its stock price per share?
a. $15.20
b. $11.40
c. $16.87
d. $17.02
e. $17.63

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