VH+ 1l 87% 09:09 Read Only - You can't save changes to t... 14. Gross profit is equal to A. sales minus cost of goods sold. B. sales minus (selling and administrative expenses). C. sales minus (cost of goods sold and selling and administrative expenses). D. sales minus (cost of goods sold and depreciation expense). 15. Increasing interest expense will have what effect on EBIT? A. increase it B. decrease it C. no effect D. not enough information to tell 16. Thirty years ago, your father invested $11,000. Today, that investment is worth $287,047. What is the average annual rate of return your father earned on his investment? a. 11.14 percent b. 11.27 percent c. 11.38 percent D. 11.49 percent e. 12.07 percent = 17. One year ago, you invested $2,500. Today it is worth $2,789.50. What rate of interest did you earn? a. 8.67 percent b. 9.89 percent c. 10.67 percent d. 11.42 percent E. 11.58 percent 18. Akram wants to know how large her deposit of $200,000 today will become at a compound annual interest rate of 10% for 6 years