Brown Office Supplies recently reported $15,500 of sales, $8,250 of operating costs other than depreciation, and $1,750 of depreciation. It had $9,000 of bonds outstanding that carry a 7.0% interest rate, and its federal-plus-state income tax rate was 25%. How much was the firm's earnings before taxes (EBT)?

a.

$3,799

b.

$5,211

c.

$4,870

d.

$5,649

e.

$5,065