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Using the SOPV approach(or Break-up value approach), assign a value for ITC Ltd. Whose stock is currently trading at a total market price of 38 million. For ITC, the accounting data set forth three business segments : Cigarettes, FMCG, and paper. Data for the firm's three segments are as follows: in lakhs Business segment Segment sales Segment assets Segment income Cigarettes 30 15 2 FMCG 14 3 Paper 40 60 12 16 Industry data for 'pure play' firms have been compiled and summarized as follows: Business Segment Cigarettes FMCG Paper Capitalization/ Capitalization/ Sales Assets 1.5 1.2 2.20 1.8 2 1.2 Capitalization/ operating Income 20 14 12