Ledbetter Inc. is a publicly traded company that operates in three businesses and you have been provided with the following information (in millions): Business EBIT1 DA2 Invested Capital3 Median EV/EBITDA for sector4 Real estate $150 $50 $500 6.00 Travel $35 $5 $240 10.00 Spa services $100 $20 $600 Not available Ledbetter pays 40% of its income in taxes, and the company has 100 million shares trading at $22/share, $ 800 million in debt and $ 500 million in cash. a. If you acquire this company at the current market price and the real estate and travel businesses are fairly valued at the median EV/EBITDA for their sectors, estimate the EV/EBITDA multiple that you are paying for the spa business.