UESTION 5

1. The K Store had a taxable income of	$ 267,000
   It paid taxes in an amount of	$ 26,875
   The EBIT was in the amount of	$ 356,000
   The Interest Expense is	$ 89,000
   The revenues were	$ 525,000
   What is the approximate tax rate?

   	a.	11.19%
   	b.	10.07%
   	c.	9.50%
   	d.	10.75%