You are valuing a technology company whose enterprise value is $800 million. The company has no debt, but considerable employee options (10 million in total). Based on option pricing models, you value the options at $6.67 per option. If the company has 40 million shares outstanding what is the company's equity value and value per share? What is the value per share using the exercise value approach? Assume the average strike price equals $15.

Week 5 Dq 3 Marine CO Income Statement Balance Sheet Sales of machinery Revenues of financial products Total Revenues $ $ $ 1,500 400 1,900 Cost of goold sold Interest expense of financial products Total operating Costs $ $ $ (1,000) (350) (1,350) Operating Profit Interest expenses, general obligation Net Income $ $ $ 550 (80) 470 Operating Assets Financial receivables Total Assets $ $ $ 2,000 4,000 6,000 Operating liablitites General obligation debt Debt related to consumer financing Stockholders' equity Total liabilities and equity $ $ $ $ $ 400 3,600 2,200 6,200