Rao Construction recently reported $25.50 million of sales, $12.60 million of operating costs other than depreciation, a

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answerhappygod
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Rao Construction recently reported $25.50 million of sales, $12.60 million of operating costs other than depreciation, a

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Rao Construction recently reported $25.50 million of sales,$12.60 million of operating costs other than depreciation, and$3.41 million of depreciation. It had $8.50 million of bondsoutstanding that carry a 7.0% interest rate, and itsfederal-plus-state income tax rate was 25%. What was Rao'soperating income, or EBIT, in millions?
Group of answer choices
$12.28
$9.90
$8.42
$9.41
$8.32
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