Exhibit 14 -Based on the Information Provided,calculate the Intrinsic Value in 2010

Exhibit 14.5
Use the Information Below for the Following Problem(S)
$$\begin{array} { l c c } & \text { Wal-Elue } & \text { Industry } \\ \text { DPS } & 1.00 & 1.50 \\\text { Total As5et Tunover } & 3.20 & 2.50 \\\text { Net Profit Marpin } & 3.50 \% & 3.00 \% \\\text { EpS } & 4.00 & 3.00 \\\text { Total As5ets/Equity } & 3.00 & 4.00\end{array}$$
-Based on the information provided,calculate the intrinsic value in 2010 of a share of INV Corp.using the FCFF (free cash flow to the firm) model.For 2010 the FCFF was $30,000,total debt was $20,000,and there were 12000 shares outstanding.The required rate of return is 9% and the estimated growth rate in FCFF is 6.5%.

A) $104.83
B) $153.25
C) $112.50
D) $94.92
E) $80.45