| An analyst forecasts that sales per share for a stock market index will be $180 per share, depreciation $8 per share and interest $4 per share. She forecasts an operating margin of 15% and a marginal tax rate of 34%. What is her forecast of earnings per share for the index? The correct answer was B) $9.90.  
| Sales  | $180.00  |    |  
| EBITDA  | 27.00  | ($180.00)(0.15)  |  
| Depreciation  | 8.00  |    |  
| EBIT  | 19.00  |    |  
| Interest  | 4.00  |    |  
| EBT  | 15.00  |    |  
| Taxes  | 5.10  | (15.00)(0.34)  |  
| EPS  | $9.90  |    |  |