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Dumbledore Company recently reported $ 3 0 million of sales, $ 1 1 million of operating costs other than depreciation, and $ 1 . 5

Dumbledore Company recently reported $30 million of sales, $11 million of operating costs other than depreciation, and $1.5 million of depreciation. It had 9.50 million of bonds outstanding that carry a 5.0% interest rate, and its federal-plus-state income tax rate was 25%. How much was Company's net income, or NI, in millions?
a.12.5
b.17.03
c.13.48
d.12.77
e.17.50
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