Arco Steel, Inc. generated total sales of $53,294,714 during the fiscal year. Depreciation and amortization for the year totaled $2,216,971, and cost of goods sold was $26,454,794. Interest expense for the year was $11,655,870 and selling, general, and administrative expenses totaled $4,399,774 for the year. What is Arco's EBIT? Round to the nearest two decimals if needed. Do not type the $ symbol.