Answer:
$320,000
Explanation:
EBIT is earnings before interest and tax.
This case in point ignores the financing impact of interest expense, EBIT is the same as the net income plus taxes
net profit margin=net income/sales
net profit margin=10%
net income is unknown
sales=$3,000,000
10%=net income/$3,000,000
net income=10%*$3,000,000=$300,000
taxes=$20,000
EBIT=$300,000+$20,000=$320,000
