LAFCO Industries believes that its two primary product lines, automotive and commercial aircraft valves, are becoming obsolete rapidly. Its free cash flow is diminishing quickly as it loses market share to new firms entering its industry. LAFCO has $200 million in debt outstanding. Senior management expects the automotive and commercial aircraft valve product lines to generate $25 million and $15 million, respectively, in earnings before interest, taxes, depreciation, and amortization next year. The operating liabilities associated with these two product lines are minimal. Senior management also believes that it will not be able to upgrade these product lines because of declining cash flow and excessive current leverage. A competitor to its automotive valve business last year sold for 10 times EBITDA. Moreover, a company similar to its commercial aircraft valve product line sold last month for 12 times EBITDA. Estimate LAFCO’s breakup value before taxes.