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A firm subject to 40% tax rate has an EBIT of P2,000,000 with a current capital structure consisting of 50,000 shares of common stock and

A firm subject to 40% tax rate has an EBIT of P2,000,000 with a current capital structure consisting of 50,000 shares of common stock and P4,000,000 of 12 percent annual interest debt. The firm's earnings per share will be P70 P30 P24 P18

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