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Memphic Memphic
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Posts: 728
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6 years ago
FBNA's EBIT is closest to:
A) $43 million
B) $40 Million
C) $45 million
D) $60 million
Textbook 
Corporate Finance: The Core

Corporate Finance: The Core


Edition: 4th
Authors:
Read 77 times
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wrote...
6 years ago
A
Explanation:  A) EBIT = NI + Taxes + Interest expense

(EBIT - Interest Expense)(1 - .4) = NI
(EBIT - 3)(.6) = 24

EBIT = 24/.6 + 3 = $43
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