2021:

Revenue is $100m

Depreciation and Amortization (D&A) is 10% of revenue

Tax rate is 25%

Debt is $100m at 12/31/20 and carries a 5% interest rate, with required 12/31/21 $10m annual principal repayment

Capital expenditures are 15% of revenue

Net income is $15m

Balance sheet: values reflect 12/31/20 and 12/31/21 respectively

Accounts receivable: $50m; $60m

Deferred revenue: $30m; $25m

Prepaid expenses: $5m; $6m

Cash: $20m, ??

Stock price: $20; $20 (same price beginning and end of year)

Fully Diluted shares outstanding: 15m (same beginning and end of year)

1. 2021 EBITDA?

2. Cash flow from operating activities?

3. Free cash flow to equity?

4. Market Cap?

5. Year Enterprise Value at 12-31-20