Moose Industries faces the following tax schedule: Last year the company realized $10,000,000 in operating income (EBIT). Its annual interest expense is $1,500,000. What was the company's net income for the year?
A) $4,809,874
B) $5,063,025
C) $5,329,500
D) $5,610,000
E) $5,890,500

Question

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The Answer of Moose Industries faces the following tax schedule: Last year the company realized $10,000,000 in operating income (EBIT). Its annual interest expense is $1,500,000. What was the company's net income for the year?
A) $4,809,874
B) $5,063,025
C) $5,329,500
D) $5,610,000
E) $5,890,500

Moose Industries Faces the Following Tax Schedule: Last Year the Company