(5 remaining) Click here to read the eBook: The Income Statement INCOME STATEMENT Byron Books Inc. recently reported $7 million of net income. Its EBIT was $16.1 million, and its tax rate was 30%. What was its interest expense? (Hint: Write out the headings for an income statement, and then fill in the known values. Then divide $7 million of net income by (1 T) -0.7 to find the pretax income. The difference between EBIT and taxable income must be interest expense. Use this same procedure to complete similar problems.] Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary. Do not round intermediate calculations