Suppose Rocky Brands has earnings per share of $2.32 and EBITDA of $30.4 million. The firm also has 5.7 million shares outstanding and debt of $140 million (net of cash). You believe Jared's Outdoor Corporation is comparable to Rocky Brands in terms of its underlying business, but Jared's has no debt. If Jared's has a P/E of 13.2 and an enterprise value to EBITDA multiple of 7.4, estimate the value of Rocky Brands stock using both multiples. Which estimate is likely to be more accurate? Rocky Brands' stock value by using the P/E ratio is $ 29.13 per share. (Round to two decimal places.) The value of Rocky Brands by using the P/E ratio is $ 142.7 million (Round to one decimal place.) The value of Rocky Brands by using the EBITDA ratio is $ 85.8 million. (Round to one decimal place.) Rocky Brands' stock value by using the EBITDA ratio is $ 17.51 per share (Round to two decimal places.) Which estimate is likely to be more accurate? (Select from the drop-down menu.) Hint: The more accurate valuation method would take debt into consideration Enterprise Value to EBITDA ratio is the more accurate valuation method