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You are trying to value a firm that has reported an EBIT of $2M in its most recent year. Further, you see that the firm

You are trying to value a firm that has reported an EBIT of $2M in its most recent year. Further, you see that the firm has $2M in excess cash, and $6M in debt. What is the value of the firms equity if comparable firms have an enternprise value (EV)/EBIT of 11?
$18M
$14M
$22M
$24M

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