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 balance sheet 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?

$15.20 $11.40 $16.87 $17.02 $17.63

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