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Business, 03.09.2021 15:30 melissa3333
New Mexico Lumber recently reported that its earnings per share were $3.00. The company has 400,000 shares of stock outstanding. The company's interest expense was $500,000. The corporate tax rate is 40 percent. What was the company's operating income (EBIT)?
a. $ 980,000
b. $1,220,000
c. $2,000,000
d. $2,500,000
e. $3,500,000
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