The following data apply to the next three questions: Time Warner is considering a sale of its publishing division. The division had earnings before interest, taxes, depreciation, and amortization (EBITDA) of $ 1,100 million in the most recent year (depreciation was $ 300 million), growing at an estimated 5% a year (You can assume that depreciation grows at the same rate). The return on equity capital (ROE) in the division is 15%, and the corporate tax rate is 40%. The cost of capital (COC) for the division is 10%. What is your estimate to the division's Value/EBITDA multiple? O a. 3.761x O b. 4.762x O c. 4.912x O d. 5.818x O e. None of the above