The corporate valuation model values the company's operations at $950 million. The company has $50 million in short-term investments, $150 million in accounts payable, $200 million in notes payable, $300 million in long-term debt, $240 million in common stock, and $160 million in retained earnings. To calculate the market value of equity per share, take the value of operations ($950 million) and subtract total liabilities ($150m + $200m + $300m = $650m) to get market value of equity ($950m - $650m = $300m), then divide by number of shares outstanding (10 million) to get a market value of equity per share of $