Question: Brick Wall Ltd ' s value of operations is $ 4 5 1 M . Brick Wall owns a number of paintings with a total

Brick Wall Ltd's value of operations is $451M. Brick Wall owns a number of paintings with a total value of $4M. The firm has $18M of cash, of which $11M is deemed to be excess cash. In addition, the firm owns 50,000 shares, each priced at $300, in a pilsner brewery in Bavaria. What is the value of the firm?

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