Question: ROCE and Valuation (Easy) The following are ROCE forecasts made for a furn at the end of 2010.
![965_2011.png](https://secure.tutorsglobe.com/CMSImages/965_2011.png)
ROCE is expected to continue at the same level after 2013. The firm reported book value of common equity of $3.2 billion at the end of 2010, with 500 million shares outstanding. If the required equity return is 12 percent, what is the per-share value of these shares?