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A firm's profit margin when ignoring the effects of financing is 20% with an EBIT of $1.5 million and sales of $5 million. How much

A firm's profit margin when ignoring the effects of financing is 20% with an EBIT of $1.5 million and sales of $5 million. How much did the firm pay in taxes?

a. $50,000 b. $300,000 c. $350,000 d. $500,000

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