Suppose that in January 2015, Kenneth Cole Productions had sales of $518 million, EBITDA of $55.6 million, cash of $100 million, $3 million of debt, and 21 million shares outstanding. If the average EV/EBITDA ratio for the industry is 10, what is the estimated price per share for Kenneth Cole using valuation multiples approach?

$31.10

$10

$556

$26.48