You have found three comparable firms for your firm of interest, Firm A, and have calculated these multiples:

EV/EBITDA EV/Sales

Comp X 9.6 1.5

Comp Y 10.2 0.8

Comp Z 15.1 1.9

If Firm A has sales of $233 million, EBITDA of $24 million, cash of $7 million, debt of $55 million, and 8 million shares outstanding, which of these is the most reasonable estimate of As stock price using multiples analysis?

$20

$30

$40

$50

$60