ABC Inc, a telecomunications company, is projected to have EBIT of $70 and depreciation of $15 in year 1 (one year from today). The company's debt has a market and face value of $190, with an annual coupon rate of 49. The company will maintain 35 common shares outstanding over the next year. Compute an appropriate forward-looking P/E multiple based on firms in the same industry as ABC using information from the table below. Use the price- earnings method to determine the value of equity and price-per-share of ABC. The tax rate is 21%. Company Name Forward-Looking P/E Industry Firm 1 27 Pharmaceutical Firm 2 12 Retail Firm 3 13 Telecommunications Firm 4 30 Pharmaceutical Firm 5 10 Steel Firm 6 13 Telecommunications Firm 7 14 Retail Firm 8 11 Telecommunications