Russell's has annual revenue of $407,000 with costs of $228,400. Depreciation is $54,900 and the tax rate is 21 percent. The firm has debt outstanding with a market value of $232,000 along with 15,500 shares of stock that is selling at $47 a share. The firm has $60,000 of cash of which $31,500 is needed to run the business. What is the firm's EV/EBITDA ratio?

EV/EBITDA ratio =

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