Estimating Share Value Using the DCF Model Following are forecasts of Target Corporation's sales, net operating profit after tax (NOPAT), and net operating assets ( as of February 2, 2019, which we label fiscal year 2018. Note: Complete the entire question in Excel and format each answer to two decimal places. Then enter the answers in provided spaces below with two decimal places. Reported Forecast Horizon Period Terminal $ millions 2018 2019 2020 2021 2022 Period Sales $76,006 $79,124 $83,730 $87,234 $92,246 $93,428 NOPAT 3,269 4,052 3,572 4,401 3,939 4,667 NOA 23,670 24, 197 26,057 26,677 28,661 28,571 Answer the following requirements with the following assumptions: Assumptions Terminal period growth rate 2% Discount rate (WACC) 7.63% Common shares outstanding 517.80 million Net nonoperating obligations (NNO) $12,373 million Estimate the value of a share of Target common stock using the discounted cash flow (DCF) model as of February 2, 20 Reported Forecast Horizon Terminal ($ millions) 2018 2019 2020 2021 2022 Period Increase in NOA $ 527 ~ $ 1,860 ~ $ 620 ~ $ 1,984 $ (90) FCFF (NOPAT - Increase in NOA) 3, 525 1,712 3,781 1,955 4,757 Present value of horizon FCFF (0.93) X 0.86324 X 0.80205 x 0 X Cum. present value of horizon FCFF $ OX Present value of terminal FCFF O X Total firm value 0 X NNO 0 X Firm equity value $ O X Shares outstanding (millions) O X Stock price per share $ O X