Use Current or Projected Capital Structure in EBITDA Multiple Valuation

I built out a model projecting EBITDA for 2022, applied a multiple I believe the company should trade at in 2022, used the 2022 projected cap structure to get an equity value, then discounted the equity value back to today at cost of equity. I believe there is multiple ways to do this, but my primary question is do you discount back EBITDA and use the current cap structure? Probably a banking question but I prefer the HF forum. Or if another piece of my process is incorrect, it would be helpful if it was called out as well. And then if the answer could involve the logic behind either selecting the current or future capital structure, that'd be great. TIA