14) 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. (7 points) $ $ |EBIT Enterprise Value Equity (Market Cap) Market Value of Debt Cash EBITDA Outstanding Shares Market Price/share Cash on Balance Sheet |EBIT Depreciation Interest Expense Net Income EV/EBITDA Multiple 15,000,000 31 3,000,000 39,000,000 2,500,000 7,000,000 24,000,000 13.00 $ $ $