Estimating Share Value Using the DCF Model

Following are forecasts of Home Depot's sales, net operating profit after tax $($NOPAT$),$ and net operating assets $($NOA$)$ as of February $3,2019,$ which the company labels fiscal $2018.$

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million.

Required

a$.$ Estimate the value of a share of Home Depot's common stock using the discounted cash flow $($DCF$)$ model as of February $3,2019.$

Note: Do not round until your final answer; round your final answer to two decimal places.

Stock price per share: $$

b$.$ Home Depot stock closed at $$190\mathrm{.}06$ on March $28,2019,$ the date the Form $10-$K was filed with the SEC. How does your valuation estimate compare with this closing price?

Stock price is appropriately valued