Consider Miah firm that has earnings before interest and taxes(EBIT) of $11.2m in the previous fiscal year. During the p

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answerhappygod
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Consider Miah firm that has earnings before interest and taxes(EBIT) of $11.2m in the previous fiscal year. During the p

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Consider Miah firm that has earnings before interest and
taxes(EBIT) of $11.2m in the previous fiscal year. During the
previous fiscal year, the firm had to make $1.4 m in interest
payments on existing debt obligations. Suppose that the firm faces
a tax rate of 30% on all taxable income. How much money does the
firm have to pay in taxes (in millions of dollars)
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