NO.PZ2015122802000181
问题如下：
An analyst has determined that the appropriate EV/EBITDA for Rainbow Company is
10.2. The analyst has also collected the following forecasted information for Rainbow
Company:
EBITDA = $22,000,000
Market value of debt = $56,000,000
Cash = $1,500,000
The value of equity for Rainbow Company is closest to:
选项：
A.$169 million.
B.$224 million.
C.$281 million.
解释：
A is correct.
EV = 10.2 × 22,000,000 = $224,400,000
Equity value = EV – Debt + Cash
= 224,400,000 – 56,000,000 + 1,500,000
= $169,900,000
考点：Asset-based Valuation
解析的计算过程已经很详细了，唯一指的注意的是题目让我们根据enterprise value的公式来计算 equity value，所以需要把EV的公式调整一下：
market value of equity=EV-market value of preferred equity - market value of debt+cash and short-term investments
如题
