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Answer questions 37-38 based on the following information: 2017 2020 EBITDA 800 1200 37. Assume that in 2017 the company was purchased for a 7x

Answer questions 37-38 based on the following information:

2017 2020

EBITDA 800 1200

37. Assume that in 2017 the company was purchased for a 7x multiple, using $3,400 of debt. Assume that in 2020 the company is sold for a 7x multiple, and there was $2,400 of debt outstanding when the company was sold. What is the equity return?

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