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Consider the following balance sheet and income statement for Mmm Good Foods Incorporated (the company that operates Tasty Fried Chicken and Pizza Party), in condensed form, including some information from the cash flow statement: (amounts are in millions)

	Mmm Good Foods Incorporated
Balance Sheet	2019
Cash and short-term Investments	$ 718
Accounts receivable	384
Inventory	50
Other current assets	442
Long-lived assets	4,080
Total assets	$ 5,674
Current liabilities	$ 1,439
Total liabilities	11,162
Noncontrolling interest
Shareholders equity	(5,488)
Total liabilities and equity	$ 5,674
Income Statement
Sales	$ 6,506
Cost of sales	3,568
Gross margin	$ 2,938
Earnings before interest and taxes	$ 1,639
Interest	321
Taxes	338
Income from discontinued operations	611
Net income	$ 1,591
Share price	$ 77
Earnings per share	5.51
Number of outstanding shares (millions)	356.4
Cash Flows
Cash flow from operations	$ 1,218
Capital expenditures	399
Dividends	764

Required:

Determine the valuation of the company at the end of 2019 using each of the following three methods. Assume earnings and cash flows for the coming 10 years are equal to the earnings and cash flows in 2019; the appropriate free cash flow multiple is 23.4. (Enter your answers in millions rounded to nearest whole number.)

a. Market capitalization.

b. Enterprise value.

c. Free cash flow multiple.

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