Question: You've decided to use the enterprise valuation method to value a new company, Ward's Shoes. You've estimated that the value of their operation is $

You've decided to use the enterprise valuation method to value a new company, Ward's Shoes. You've estimated that the value of their operation is $27 million, and the company has $5.6 million in debt outstanding. If Ward's Shoes has 5 million shares outstanding, what is a fair price of a share of stock in the company?

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