QUESTION 22 A firm's net income is $500,000, and its return on assets is 15%. If the firm's EBIT is $1,950,000, what is the firm's basic earning power? 15.8% 24.1% 58.5% 73.1% none of these QUESTION 23 On an operating profit (EBIT) of $12,390,000, a firm has a times interest earned of 4.2 times. The firm's tax rate is 32%. What is the firm's net income? $7,271,300 $4,967,380 $6,419,200 $5,281,700 none of these