A company has 10 million shares outstanding trading at $20.00. Net leverage is 3.0x. All of its debt is fixed-rate and pays 5% cash interest, and cash interest expense is $20M per year. Net income margin is 10%, EBIT margin is 20%, D&A is 10% of revenue and the tax rate is 25%. There is no minority interest, no preferred stock and no dilutive securities, and there is no income or expense between EBIT and pre-tax income other than the cash interest. What is total enterprise value (in $M)?
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