New Mexico Lumber recently reported that its earnings per share were $3.00. The company has 400,000 shares of stock outstanding. The company's interest expense was $500,000. The corporate tax rate is 40 percent. What was the company's operating income (EBIT)? Question 30 options: $ 980,000 $1,220,000 $2,000,000 $2,500,000 $3,500,000