Which one of the following statements best describes the leveraged buy out below.

Entry EBITDA	4,000.0
Acquisition EBITDA multiple	8.0 x
Debt financing, entry	19,200.0
Investment time horizon, years	3.0
Exit EBITDA	5,000.0
EBITDA multiple, exit	9.5 x
Debt at exit	15,000.0

Select one:

Total value creation for equity holders in this LBO is 15,500.

The IRR for this LBO is below 20%.

The greatest source of value creation for this LBO is from EBITDA improvement.

Total debt repayment is 15,000.