Blossoms income statement from the fiscal year that ended this past December is:

Revenue	$736
Cost of goods sold	482
Gross profit	$254
Selling, general, & administrative expenses	100
Operating profit (EBIT)	$154
Interest expense	36
Earnings before taxes	$118
Taxes	47
Net income	$71

All dollar values are in millions. Depreciation and amortization expenses last year were $31 million, and the company has $394 million of debt outstanding. You are an analyst at a firm that buys private companies, improves their operating performance, and sells them for a profit. Your boss has asked you to estimate the fair market value of the Blossom Machine Tool Company. Billys Tools is a public company with business operations that are virtually identical to those at Blossom. The most recent income statement for Billys Tools is as follows:

Revenue	$	1,305
Cost of goods sold		864
Gross profit	$	441
Selling, general, & administrative expenses		156
Operating profit (EBIT)	$	285
Interest expense		9
Earnings before taxes	$	276
Taxes		109
Net income	$	167

All dollar values are in millions. Billys had depreciation and amortization expenses of $53 million last year and had 150 million shares and $440 million of debt outstanding as of the end of the year. Its stock is currently trading at $9.00 per share.

(a)

Calculate Billy Tools enterprise value/EBITDA. (Round ratio to 2 decimal places, e.g. 15.25.)

Billy Tools enterprise value/EBITDA ratio is enter Billy Tools enterprise value/EBITDA ratio rounded to 2 decimal places .