You are a senior loan officer at a Muse Capital, Inc. You've been invited to propose on the senior financing portion of a $50 million total loan facility requested by a large industrial firm named Alter Bridge Corporation. They are a solid, long-term customer of your bank and have a history of completing well-managed expansion projects. The financing proposal, requested by Alter Bridge Corporation in January 2020, seems to be another one of those with the proceeds being used to fund a large, regional expansion into a new market in 2020. It's likely that the $50mm facility will include senior and subordinated financing components. Your bank, however, does not make subordinated loans (if any subordinated debt is needed at all). So, Alter Bridge is asking you (and several other large senior lenders) what the maximum incremental senior loan amount might be so they can plan for how much subordinated debt they need in addition to the senior facility. To assist you in your preliminary evaluation you've received the following information: EBITDA 2017 $8.0mm 2018 $9.0mm 2019 $11.0mm P2020 P2021 $12.0mm $16.0mm CAPEX $2.0mm $2.0mm $2.1mm $50.0mm $2.2mm Total Financing: Existing facility $10.0mm $12.0mm Requested New Facility $0.0mm $0.0mm $11.0mm $0.0mm $10.0mm $9.0mm $50.0mm $49.0mm This information provides you with a way to generate a quick answer to your customer by using a leverage multiple approach. If your bank will extend credit to its strongest clients using a leverage multiple of 3.0x near term projected EBITDA for all outstanding debt, what calculation (or calculations) would you show to Alter Bridge Corporation detailing the maximum amount of Muse Capital's participation in the requested $50.0 million facility?