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QUESTION 3 Partialy correct 054 points out of 100 PFlag question Estimating Share Value Using the ROPI Model Following are the income statement and balance sheet for Texas Roadhous e for the year ended December 29, 2015 Assume the following forecasts for TXRH's sales, NOPAT, and NOA for 2016 through 2019. Forecast the terminal period values assuming a 196 terminal period growth rate for all three model inputs: Sales, NOPAT, and NOA. Round your answers to the nearest dollar ecast Horizon Terminal $ thousands 2015 2016 2017 2018 2019 Period Sales $1,807,368 $2,087,510 $2,411,074 S2,579,849 $2,760,438 2,738,042 NOPAT 102,495 171,176 197,708 211,548 226,356 158,082 x NOA 662,502 765,216 883,825 945,692 1,011,891 1,021,261 x a. Estimate the value of a share of TXRH common stock using the residual operating income (ROPI) model as of December 29, 2015; assume a discount rate (WACC) of 7%, common shares outstanding of 70,091 thousand, net nonoperating obligations (NNO) of $(14,680) thousand, and noncontrolling interest (NCI) from the balance sheet of $7,520 thousand. Note that NNO is negative because the company's cash exceeds its nonoperating liabilities Rounding instructions: . Use rounded answers for subsequent computations. Round answers to the nearest whole number unless otherwise noted .Round discount factor to 5 decimal places and stock price per share to two decimal places. Do not use negative signs with any of your answers below. TXRH Reported Forecast Horizon Terminal $ thousands 2015 2016 2017 2018 2019 Period ROPI (NOPAT INOABeg rwl) $ 124,801 s 144, 143. $ 149,680 $ 160158 vs 87,250 x Discountfactor [1/1rw)t 0.93457 0.87343 X 0.81629 X 0.76289 X 116,636 25,900 122,183 x 122,184 Present value of horizon ROPI 486,903 Present value of terminal ROP 1,109377X NOA 562,502 Total firm valuc 2,258,782X NNO 14,680 NCI 7,520 Firm equity value 2,265,942X Shares outstanding (thousands) 70,091 32.33 X Stock value per share