When the market price for a barrel of oil is $7000 your company estimates it needs 5,000,000 barrels for the upcoming year At $7000 per barrel your firm expects its EBIT to be $500 million What will the firm's EBIT if the firm enters into a supply contract for oil at a fixed price of $7200 per barrel $350 million $510 million $490 million $500 million

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