Once Bitten Corp. uses no debt. The weighted average cost of capital is 9.8 percent, and...

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Once Bitten Corp. uses no debt. The weighted average cost of capital is 9.8 percent, and the company's EBIT is expected to be a constant amount in perpetuity. The current market value of the equity is $29 million and the corporate tax rate is 35 percent. What is the company's EBIT? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to 2 decimal places, e.g., 32.16.) EBIT $ Once Bitten Corp. uses no debt. The weighted average cost of capital is 9.8 percent, and the company's EBIT is expected to be a constant amount in perpetuity. The current market value of the equity is $29 million and the corporate tax rate is 35 percent. What is the company's EBIT? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to 2 decimal places, e.g., 32.16.) EBIT $