Use the Information for the Question(s)below

question 89

Multiple Choice

Use the information for the question(s) below.
Fly by Night Aviation (FBNA) expects to have net income next year of $24 million and interest expense of $3 million.FBNA's marginal corporate tax rate is 40%.
-FBNA's EBIT is closest to:

• A)$43 million
• B)$40 Million
• C)$45 million
• D)$60 million

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Definitions:

Carbohydrate

Organic compounds consisting of carbon, hydrogen, and oxygen, serving as a major source of energy in diets.

Lipid

A group of naturally occurring molecules that includes fats, waxes, sterols, fat-soluble vitamins (such as vitamins A, D, E, and K), monoglycerides, diglycerides, triglycerides, phospholipids, and others.

Nucleic Acid

A complex organic substance present in living cells, especially DNA or RNA, whose molecules consist of many nucleotides linked in a long chain, fundamental for the transmission of genetic information.

Protein

Large molecules composed of one or more long chains of amino acids, essential for the structure, function, and regulation of the body's cells, tissues, and organs.