ANSWER THE FOLLOWING QUESTIONS BASED ON EXHIBIT 5 12. Assume that Company A was sold at the end of 2011 for a 5.5 x multiple of EBITDA , and that the purchase was financed in part with $3 , 500 of debt . If the company is sold at the end of 2013 for this same 5.5 x multiple , what is the equity return ( assuming no debt paydown ) ? 13 . Make all the same assumptions as you did in # 12 , but assume the initial purchase was only financed with $1 , 000 of debt . What is the equity return in this case assuming no debt paydown