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A company earns perpetual annual cash flows, and uses no debt. The company's weighted average cost of capital is 10.0 percent. If the current market

A company earns perpetual annual cash flows, and uses no debt. The company's weighted average cost of capital is 10.0 percent. If the current market value of the equity is $12 million and there are no taxes, what is EBIT? [Express your answer rounded to the closest dollar with NO COMMAS (e.g. 650000)]

EBIT =$ Blank 1. Fill in the blank, read surrounding text.

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