Question 7 (1 point) Coconut Inc. is a private firm that produces industrial laser equipment. It has expected EBIT of $13.0 million this year. The company currently has 16.5 million shares, $4.5 million cash, and no debt. It also has a plan to issue 46.5 million shares. Calculate the share price of Coconut Inc. based on the average EBIT multiple of similar companies: Ray Products Corp. Byce-Frasier, Inc. Fire Industries Market value of equity Value of debt Cash EBIT 250 35 6 19 230 150 70 30 9 3 13 15 Instructions: Round the result to two decimal places and do not put the "$" symbol in the answer box. For example if you get a result of $17.8492 then write 17.85 in the answer box below. Your Answer: Answer