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Question
Moose Industries has a corporate tax rate of 25%. Last year the company realized $14,000,000 in operating income (EBIT). Its annual interest expense is $1,500,000. What was the companys net income for the year?
a. $6,497,750
b. $9,375,000
c. $8,883,000
d. $9,705,500
e. $10,280,250
Answer
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