Enterprise Value is defined as Market Value of the Equity + Market Value of the Debt -
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Question:
Enterprise Value is defined as Market Value of the Equity + Market Value of the Debt - Cash
Using the information below, determine the market value of the debt.
- Market per share price is $31
- 15,000,000 outstanding shares
- Cash on balance sheet is $3,000,000
- EBIT of $39,000,000
- Depreciation expense of $2,500,000
- Interest Expense of $7,000,000
- Net Income of $ 24,000,000
- EV/EBITDA multiple of 13.0x
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