Medsoft is a privately-owned medical IT company. Provide an estimate of Medsoft's equity value by determining an appropriate P/E ratio for Medsoft. The comparable table has relevant statistics for similar firms and similar M&A deals. Medical IT Industry (In millions) Medsoft Results Six Publicly-Traded Comparable Firms Four Comparable M&A Deals Median Equity Value ? $240 $400 Annual Net Income $ 20 $35 $45 Median P/E Ratio Show your calculations and provide a brief explanation of your answer. ? 8x 9x Median 5-Year Growth Rate 10% 6% 7%