Sugar Skull Corporation uses no debt. The weighted average cost of capital is 9 percent. The current market value of the equity is $17.6 million and the corporate tax rate is 21 percent. What is the EBIT? Note: Use the M\&M proposition I formula with taxes but without any debt (i.e. D=0 ) and solve for the EBIT. (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.)