JGC Electronics operates in a very cyclical business environment such that it is not uncommon for the firm's sales to increase or decrease by 20 percent or more from year to year. Moreover, the firm has made a substantial investment in plant and equipment, The company's high fixed operating expenses assoclated with the plant and equipment make the firm's earnings before interest and taxes (EBIT) very sensitive to changes in revenues. In fact, If revenues were to rise by 20 percent, the firm's managers estimate that EBIT would rise by 40 percent. If JGC's revenues were to fall by 20 percent from their current level of $10 million, what percentage decline in EBIT would you anticipate for the firm? (The solution can be found on page 441 )