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10. St. Luciano Incorporated recently reported $22.25 million of sales, $14.50 million of operating costs other than depreciation, and $4.00 million of depreciation. It had
10. St. Luciano Incorporated recently reported $22.25 million of sales, $14.50 million of operating costs other than depreciation, and $4.00 million of depreciation. It had $8.50 million of bonds outstanding that carry a 7.0% interest rate, and its federal- plus-state income tax rate was 40%. What was Mark St. Jeremy's operating income, or EBIT, in millions? a) $3.25 b) $3.75 c) $4.90 d) $3.90 e) $4.45
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