$1410$ points

Based on the free cash flow valuation model, Bizzaro Co$.\text{'}$s value of operations is $$300$ million. The balance sheet shows $$20$ million of short$-$term investments that are unrelated to operations, $$50$ million of accounts payable, $$20$ million of notes payable, $$30$ million of long$-$term debt, $$40$ million of preferred stock, and $$100$ million of common equity. Bizzaro has $10$ million shares of stock outstanding. What is the best estimate of the stock's price per share?

$$20$

$$

$$19$

$$23$

$$22$

$$21$