Blunderbluss Manufacturing's balance sheets report $280 million in total debt, $84 million in short-term investments, and $58 million in preferred stock. Blunderbluss has 10 million shares of common stock outstanding. A financial analyst estimated that Blunderbuss's value of operations is $830 million. What is the analyst's estimate of the intrinsic stock price per share?  Round your answer to the nearest cent.

Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter9: The Cost Of Capital
Section: Chapter Questions
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Blunderbluss Manufacturing's balance sheets report $280 million in total debt, $84 million in short-term investments, and $58 million in preferred stock. Blunderbluss has 10 million shares of common stock outstanding. A financial analyst estimated that Blunderbuss's value of operations is $830 million. What is the analyst's estimate of the intrinsic stock price per share? 

Round your answer to the nearest cent.

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