million in accounts receivable , $ 60 million in inventory , and $ 100 million in short-term investments that are unrelated to operations . The balance sheet also shows $ 90 million in accounts payable , $ 120 million in notes payable , $ 300 million in long-term debt , $ 50 million in preferred stock , $ 180 million in retained earnings , and $ 800 million in total common equity . If the company has 30 million shares of stock outstanding , what is the best estimate of the stock ’ s price per share ?
a . $ 24.90 b . $ 27.67 c . $ 30.43 d . $ 33.48 e . $ 36.82
4 . Based on the corporate valuation model , the value of a company ’ s operations is $ 900 million . Its balance sheet shows $ 70 million in accounts receivable , $ 50 million in inventory , $ 30 million in short-term investments that are unrelated to operations , $ 20 million in accounts payable , $ 110 million in notes payable , $ 90 million in long-term debt , $ 20 million in preferred stock , $ 140 million in retained earnings , and $ 280 million in total common equity . If the company has 25 million shares of stock outstanding , what is the best estimate of the stock ’ s price per share ?
a . $ 23.00 b . $ 25.56 c . $ 28.40 d . $ 31.24 e . $ 34.36