The following table provides summary information for Alpha Corp. and its competitors Beta, Inc. and...

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The following table provides summary information for Alpha Corp. and its competitors Beta, Inc. and Gamma Company. Use the information to compute the price to net operating assets ratio for Beta and Gamma. In addition, using Beta and Gamma as comparables, compute Alpha's intrinsic value, equity intrinsic value and equity intrinsic value per share. (All amounts in millions) Alpha Beta Gamma Company assumed value $47,252 $35,368 Equity assumed value 42,865 35,024 Net operating assets $3.766 11,164 5,719 Book value of equity 2,922 6,777 5,375 Net nonoperating obligations 844 4,387 344 Common shares outstanding 92.4 325.8 185.4

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