The following information has been provided by Steel Corp for the year ended December 31, 2019: Net income was $102,000 Income tax expense was $57,000 Dividends declared and paid totaled $8,500 Interest expense was $7,400 Loss on sale of plant assets was $12,000 Operating expenses for rent, wages, and insurance totaled $87,000 Cash collected from customers was $165,000 Calculate SteelCorp's operating income (EBIT) A. $154,400 B. $157,900 C. $166,400