Problem $16-11$ M and M and Taxes $[$LO$2]$

Sugar Skull Corporation uses no debt. The weighted average cost of capital is $8\mathrm{.}5$ percent. The current market value of the equity is $$17\mathrm{.}1$ million and the corporate tax rate is $21$ percent. What is the EBIT? $($Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, rounded to $2$ decimal places, e$.$g$.,1,234,567\mathrm{.}89.)$

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