Summit Beverages Inc.s estimated EBITDA for the TTM is $345.85 million and the median trailing enterprise value to EBITDA ratio of comparable firms is 7.50. The market value of Summit Beverages debt is $923.48 million and it has no outstanding preferred stock and 102.50 million shares of common stock. Estimate the value of common stock using the enterprise value to EBITDA ratio.

A.

$3.37

B.

$11.45

C.

$12.38

D.

$16.30

E.

$25.31