BiteDance Inc. has a weighted-average cost of capital (WACC) equal to 15% and is subject to a 20% corporate income tax rate. The company has a return on capital (ROC) equal to 10%, an after-tax operating margin of 40% and has a capital reinvestment rate of 50%. Based on the previous information please answer the following questions:

(a) (3 points) What is BiteDance Inc.'s forward ( EV EBIT 1 ) ratio equal to? In case the equation does not show on your screen here is a text version of the same ratio: EV/EBIT₁.

(b) (3 points) What is BiteDance Inc.'s forward ( EV EBIT 1 ( 1 T C ) ) ratio equal to? In case the equation does not show on your screen here is a text version of the same ratio: EV/EBIT₁(1-T_C).

(c) (3 points) What is BiteDance Inc.'s forward ( EV FCFF 1 ) ratio equal to? In case the equation does not show on your screen here is a text version of the same ratio: EV/FCFF₁.