Question
New Mexico Lumber recently reported that its earnings per share were $ 4 .00. The company has 6 00,000 shares of stock outstanding. The company's
New Mexico Lumber recently reported that its earnings per share were $ 4 .00. The company has 6 00,000 shares of stock outstanding. The company's interest expense was $ 6 00,000. The corporate tax rate is 40 percent. What was the company's operating income (EBIT)? Round it to a whole dollar, and do not include the dollar sign.
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Financial Markets and Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
8th edition
013342362X, 978-0133423624
