Question: Using the approach shown in the Able Case, estimate the ceiling price of the Arora Company. Below are the key facts: Median multiple of value

Using the approach shown in the "Able Case", estimate the ceiling price of the Arora Company. Below are the key facts: Median multiple of value to adjusted EBITDA among industry peers -- 5.0 Depreciation -- $1.47 million Arora Company has no debt Unadjusted EBITDA -- $6.23 million Current owner's salary is $0.35 million per year The acquiring company believes it can replace owner-manager with a professional manager who will receive compensation of $0.25 million annually Express your answer to two significant digits in millions i.e. $53.12 million should be expressed as 53.12

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