Suppose IWT has decided to distribute $50 million, which it presently is holding in liquid shortterm investments. IWT’s value of operations isestimated to be about $1,937.5 million; it has$387.5 million in debt and zero preferred stock. Asmentioned previously, IWT has 100 million sharesof stock outstanding.(1) Assume that IWT has not yet made the distribution. What is IWT’s intrinsic value of equity?What is its intrinsic stock price per share?

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