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Mark Wiley & Sons, Inc. is considering a sale of its publishing division. The division had earnings before interest, taxes, depreciation and amortization (EBITDA) of $ 1,100 million in the most recent year (depreciation was $ 300 million), growing at an estimated 5% a year (You can assume that depreciation grows at the same rate). The retum on equity capital (ROE) in the division is 15%, and the corporate tax rate is 40%. The cost of capital (COC) for the division is 10% 31 of 40 Marks What is your estimate to the division's Value/FCFF multiple? O A 20x OB 21x OC. 22x OD. 23x O E None of the above Unsure