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Last year, the Celery Corporation reported $10.5 million of sales, $6.25 million of operating costs other than depreciation, and $1.3 million of depreciation. The company

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Last year, the Celery Corporation reported $10.5 million of sales, $6.25 million of operating costs other than depreciation, and $1.3 million of depreciation. The company had $5 million worth of debt, requiring it to pay bonds that carry a $0.325 million interest expense per year. The applicable corporate tax rate was 35%. The figures for this year are expected to remain unchanged except for depreciation, which is expected to increase by $0.7 million. Reported in millions of dollars and rounded to two decimal points, calculate by how much the company operating income will change as a result of the change in depreciation. Select one: a. -$0.46 b. -$0.48 C. -$0.70 d. -$0.43

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