Start with the partial model in the file Ch$14$ P$13$ Build a Model.xls on the textbook's Web site. J$.$ Clark Inc. $($CI$),$ a manufacturer and distributor of sports equipment, has grown until it has become a stable, mature company. Now JCI is planning its first distribution to shareholders. $($See the file for the most recent year's financial statements and projections for the next year, $2020$; JCl$\text{'}$s fiscal year ends on June $30.)$ JCI plans to liquidate and distribute $$500$ million of its short$-$term securities on July $1,2020,$ the first day of the next fiscal year, but it has not yet decided whether to distribute with dividends or with stock repurchases. D$)$What is JCI$$s current intrinsic stock price $($the price on $6/30/2019)?$ What is the projected intrinsic stock price for $6/30/2020?$ e$.$ What is the projected intrinsic stock price on $7/1/2020$ if JCI distributes the cash as dividends? f$.$ What is the projected intrinsic stock price on $7/1/2020$ if JCI distributes the cash through stock repurchases? How many shares will remain outstanding after the repurchase?d$.$ What is JCl$\text{'}$s current intrinsic stock price $($the price on $6/30/2023)?$ What is the projected intrinsic stock price for

$63012024?$

See below for

calculations.

e$.$ What is the projected intrinsic stock price on $\frac{7}{1}\frac{?}{2024}$ if JCI distributes the cash as dividends?

See below for

calculations.

f$.$ What is the projected intrinsic stock price in $\frac{7}{12024}$ if JCl distributes the cash ath Fough stock repurchases? How

many shares will remain outstanding after the repurchase?

See below for

calculations.

Value of nonoperating assets

Total intrinsic value of firm

$-$Debt

Intrinsic value of equity

$$ Number of shares

Intrinsic price per share