The income statement of Immobiliare Company is given in EUR. It is a subsidiary company of Oman Holding Company. The management asked to translate the income statement into OMR according to current/non-current method, and then to calculate EBITDA to Sales ratio.

Which of the following is the EBITDA to Sales ratio according to the translated income statement?

Current exchange rate: 1 EUR = 0.434 OMR

Average exchange rate: 1 EUR = 0.415 OMR

Historical exchange rate: 1 EUR = 0.426 OMR

	EUR
Sales	662,000
Cost of goods sold	368,000
Gross profit	294,000
Operating expenses	88,000
Depreciation expense	26,000
Amortization expenses	19,000
Interest expense	14,000
Net income before tax	147,000
Income tax (15%)	22,050
Net income after tax	124,950

Select one:

a. 21.36 %

b. 25.87 %

c. 16.73 %

d. 28.57 %