Turnbull company had an EBIT of $247 million in the last financial year. Its depreciation and amortisation expenses amounted to $84 million. The company has 135 million shares outstanding and a share price of $12.80. A competing company that is very similar to Turnbull has an enterprise value/EBITDA multiple of 5.40. Multiples analysis: What is the value of Turnbull company's debt? Round to the nearest million dollars.
A) $121 million
B) $165 million
C) $97million
D) $59 million
Correct Answer:
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