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Lee Majors Company (Earnings Before Interest and Taxes also known as EBIT) or operating income is $500,000. The companys interest expense is $150,000 and their

Lee Majors Company (Earnings Before Interest and Taxes also known as EBIT) or operating income is $500,000. The companys interest expense is $150,000 and their tax rate is 10%. What is the companys net income?

$500,000

$315,000

None of these selections are correct

$240,000

$ 70,000

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