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23. An investment bank is taking a private firm public. The bank finds that recently five firms from the same industry went public at an

23. An investment bank is taking a private firm public. The bank finds that recently five firms from the same industry went public at an average offer price per share to EBITDA per share ratio of 7.5. If the private firms EBITDA is $1.2 per share for the most recent year, then an offer price estimate would be

A. $7.5 B. $8.5 C. $9.0 D. $10

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