Europa Inc. currently trades at $36 a share and has 200 million basic shares outstanding. There are 50 million options outstanding with an exercise price of $43 and 5 million warrants with an
exercise price of $24. Europa holds $75 million in cash and cash equivalents and has a total debt of $28 million. The values of preferred stock and noncontrolling interest in the company stand at$12 million and S8 million. respectively.
Calculate the Equity Value of Europa Inc. on a fully diluted basis using the Treasury Stock Method (Round to the nearest integer).