A firm reports earnings before interest and tax (EBIT) of $80 million and net income of $32.0 million. If the firm paid $40 million in debt interest, what must the corporate tax rate be? A. The tax rate must be 25% B. The tax rate must be 30% C. The tax rate must be 50% D. The tax rate must be 10% E. The tax rate must be 20%