Luther Corporation Consolidated Balance Sheet December 31, 2006 and 2005 (in $ millions) . 2006 2005
Assets
Liabilities and Stockholders' Equity
2006 2005
Current Assets
Current Liabilities
Cash 56.1 58.5
Accounts payable 88.1 73.5
Accounts receivable 54.5 39.6
Notes payable / short-
term debt 10.9 9.6
Inventories 44.8 42.9
Current maturities of long-
term debt 40.7 36.9
Other current assets 5.0 3.0
Other current liabilities 6.0 12.0
Total current assets 160.4 144.0
Total current liabilities 145.7 132.0
Long-Term Assets
Long-Term Liabilities
Land 66.8 62.1
Long-term debt 227 168.9
Buildings 108.5 91.5
Capital lease obligations
Equipment 117.1 99.6
Less accumulated
depreciation (54.4) (52.5)
Deferred taxes 22.8 22.2
Net property, plant, and
equipment 238 200.7
Other long-term liabilities --- ---
Goodwill 60.0 --
Total long-term liabilities 249.8 191.1
Other long-term assets 63.0 42.0
Total liabilities 395.5 323.1
Total long-term assets 361 242.7
Stockholders' Equity 125.9 63.6
Total Assets 521.4 386.7
Total liabilities and
Stockholders' Equity 521.4 386.7
Refer to the balance sheet above. If in 2006 Luther has 10.2 million shares outstanding and these shares are trading at $16 per share, then what is Luther's enterprise value?
A. -$540.0 million.
B. $771.4 million.
C. $385.7 million.
D. $521.4 million.