Based on the Corporate Valuation Model,Bizzaro Co

Multiple Choice

Based on the corporate valuation model,Bizzaro Co.'s value of operations is $300 million.The balance sheet shows $20 million of short-term investments that are unrelated to operations,$50 million of accounts payable,$90 million of notes payable,$30 million of long-term debt,$40 million of preferred stock,and $100 million of common equity.Bizzaro has 10 million shares of stock outstanding.What is the best estimate of the stock's price per share?

A) $13.72
B) $14.44
C) $15.20
D) $16.00
E) $16.80