Investment bank Canaccord's Think Childcare (TNK) initiation of coverage states: "Childcare operators tend to generate EBIT margins of between 12%-20% at the operating level. We estimate that TNK's margins are currently around 15%-16% after corporate costs and expect that margins will gradually grow as scale efficiencies are reached. By comparison, given the far larger size, GEM (a competitor) operates on EBIT margins of -22%." Which of the following statements is NOT correct? Select one: O a. Corporate costs are likely to include head office costs such as executive, accounting, human resources and legal department salaries. O b. Corporate costs are likely to grow faster than revenues as the firm expands organically and through bolt-on acquisitions. OC. EBIT margin equals earnings before interest and tax divided by sales. O d. The higher the EBIT margin, the better. O e. EBIT margins would be higher than profit margins but lower than EBITDA margins