1. After Winter Holidays Inc files your boss asks you to look at the bank debt for a possible investment. The bank debt is trading at $.90 (still $450mm outstanding), the subordinated bonds at $.50, and the equity is at $.10 / share. As part of your analysis you decide to calculate enterprise value using the market value method. What do you come up with? SHOW YOUR WORK FOR FULL CREDIT

2. Using the enterprise value from the prior question what is EV multiple for FYE 12/31/20. Use the numbers in the text box to calculate EBITDA