Estimating Share Value Using the ROPI Model Assume following are forecasts of Abercrombie & Fitch's sales, net operating profit after tax (NOPAT), and net operating assets (NOA) as of January 29, 2011. Refer to the information in the table to answer the following requirements Reported Horizon Period (In millions) 2011 2012 2013 2015 Terminal Period Sales $3,750 $4,500 $5,400 $5,480 $ 7,776 NOPAT 464 679 NOA 1350 1,624 1,922 2,306 2,798 2,796 2014 581 815 957 978 Answer the following requirements assuming a discount rate (WACC) of 13.3%, a terminal period growth rate of 1%, common shares outstanding af 86.2 million, and net nanoperating abligations (NNO) of $(288) million (negative NNO reflects net nanoperating assets such as investments rather than net obligations). (a) Estimate the value of a share of Abercrombie & Fitch common stock using the residual operating income (ROPI) model as of January 29, 2011. Rounding instructions: Round answers to the nearest whole number unless noted otherwise. Use your rounded answers for subsequent calculations. Horizon Period 2013 2015 Terminal Period OX 2014 0 X 0 x OX Do not use negative signs with any of your answers. Reported (in millions) 2011 2012 ROPI (NCPATINOABegrw] 0 x Discount factor [1/(1+rw ] (Rounds decimal places) Present value of horizon ROPI 0 X Cum present value of horizon ROPI $ Present value of terminal ROPI NOA Total firm value NNO OX Firm ruity value $ 0 x Shares outstanding (millions) ax (raundione decimal place) Stock price per share $ 0X round two decimal places)