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Current Attempt in Progress Management of March and Crane Inc. has estimated that the firm's new TV dinner project must generate $10,800 in FCF during

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Current Attempt in Progress Management of March and Crane Inc. has estimated that the firm's new TV dinner project must generate $10,800 in FCF during each of the next six years to have an NPV of $0. Management anticipates that depreciation and amortization charges will equal $2,800, capital expenditures will equal $2,000, and additions to working capital will equal $500 during each of those years. What level of EBIT corresponds to an annual FCF of $10,800 if the firm is subject to the 40 percent marginal tax rate? (Round answer to 2 decimal places, eg. 52.75.) EBIT $

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