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Baja Cafes Inc (BCI) reported EBIT of $13.5 million. Peer companies in the same industry are trading for an average of 8.9 times EBIT. BCI

Baja Cafes Inc (BCI) reported EBIT of $13.5 million. Peer companies in the same industry are trading for an average of 8.9 times EBIT. BCI also reported interest-bearing debt of $6 million. If BCI has 2.3 million shares outstanding, what is the implied value per share?

A. $5.87

B. $52.24

C. $3.26

D. $49.63

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