Question $22(1$ point$)$

Cardinal Energy has the following financial data $($all numbers in millions of $$)$: EBITDA

is $$91,$ Excess Cash is $$25,$ Debt is $$66,$ Accounts Receivable is $$14$ and Accounts

Payable is $$26.$

Companies comparable to Cardinal have an average EV$/$EBITDA ratio of $7\mathrm{.}83.$

Using the comparable data, estimate the value of Cardinal's equity.

Express your answer in millions of dollars and round to two decimal places $($do not

use $ or $,$ in your answer$),$ e$.$g$.,$ $$12,111,222\mathrm{.}89$ would be entered as $12\mathrm{.}11.$

Your Answer:

Answer