Blunderbluss Manufacturing's balance sheets report $315 million in total debt, $69 million in short- term investments, and $58 million in preferred stock. Blunderbluss has 20 million shares of common stock outstanding. A financial analyst estimated that Blunderbuss's value of operations is $840 million. What is the analyst's estimate of the intrinsic stock price per share? Round you answer to the nearest cent.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Blunderbluss Manufacturing's
balance sheets report $315 million
in total debt, $69 million in short-
term investments, and $58 million
in preferred stock. Blunderbluss
has 20 million shares of common
stock outstanding. A financial
analyst estimated that
Blunderbuss's value of operations
is $840 million. What is the
analyst's estimate of the intrinsic
stock price per share? Round your
answer to the nearest cent.
Transcribed Image Text:Blunderbluss Manufacturing's balance sheets report $315 million in total debt, $69 million in short- term investments, and $58 million in preferred stock. Blunderbluss has 20 million shares of common stock outstanding. A financial analyst estimated that Blunderbuss's value of operations is $840 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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