Acquire company at 10x, $250MM EBITDA. No cash, 2Bn Debt. @Exit EBITDA Multiple and Debt are the same. How much do we need to increase EBITDA to have a 15% return in 5 years? A 25% return in 3 years? Scenario #2: @ Exit: PIK Debt increases by 1 Bn. EBITDA Multiple 10x. If we want a 4x return in 5 years, what does the EBITDA have to be? What is the IRR