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Based (only) on the historical data below, what is the most appropriate range estimate of the target company's EBIT margin rate for the next fiscal

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Based (only) on the historical data below, what is the most appropriate range estimate of the target company's EBIT margin rate for the next fiscal year? Ignore the 2020 (preliminary) data and assume that you only have data until 2019, SEP 20 SEP 19 SEP '18 SEP 17 SEP 16 364 DAYS 364 DAYS 364 DAYS 371 DAYS PRELIMINARY 26,502 72 20,773 5,729 20 Sales Growth (%) Cost of Goods Sold (COGS) incl. D&A Gross Income Growth (%) Margin (%) SG&A Expense EBIT (Operating income) Growth (%) Margin (%) 23,618 -11.3 20,321 3,198 442 13.6 1.680 1,518 -61.1 6,5 24,720 10.4 19,105 5,615 5.1 227 1,755 3,860 -23 15.6 22,384 5.0 17,039 5,345 19 23.9 1,393 3,951 17 177 21,311 11.3 16,064 5.242 150 24,6 1,361 3.887 15.0 18.2 21.6 1,824 3,905 1.2 147 O 6% to 7% 16.5% 15% to 18% 17% to 20%

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