Please show your work step by step in order to receive a thumbs up. You can use Excel for calculations if you wish, but the solutions must be copied and pasted in a Word text.

3. Lece Company recently reported that its earnings per share were $3.00. The company has 400,000 shares of stock outstanding. The companys interest expense was $500,000. The corporate tax rate is 40 percent. What was the companys operating income (EBIT)?