Calculations: The Initial public offering price of EFG company has been determined by the company in consultation with the investment bankers at $12 per share on the issue of 7 million common shares Selected information from EFG and some listed companies in the same industry at the end of 2020 included the following (in million $): EFG CK DL EFN GO M Enterprise Value unknown 58 75 86 100 124 Sales 200 150 300 25 180 220 0 Cost of Goods Sold 120 95 200 19 100 135 0 SG&A 26 18 39 17 35 15 Deprecation & Amortization 6 8 9 12 15 Interest Expense 3 2 2 1 2 4 Corporate Tax rate 30% 30% 30% 30 30% 30% % Debt 30 25 25 10 30 40 Noncontrolling Interest Cash and Cash Equivalent 3 2 5 4 3 3 Preferred Stock Number of Diluted Common 7 (plan) 10 12 10 10 15 Shares 10 im Please apply comparable company method to determine EFG company's value and explain whether the issue price $12 is a reasonable IPO price for EFG company