Calculate the implied stock price assuming an EBITDA multiple of 11.2x.

(All data in millions)

Short-term debt:	$22.5		Shares Outstanding:	18.330
Convertible debt	$0.0		Diluted shares outstanding:	21.501
Long-term debt:	$253.5		Cash & equivalents:	$46.5
Total liabilities:	$676.8		Minority interest:	$0.0
EBITDA:	$60.0		Net income:	$21.2

Select one:

a. $33.42

b. $41.93

c. $24.14

d. $20.58

e. $21.72