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Business, 04.09.2019 02:10 Daseanjones3063

Little books inc. recently reported $3 million of net income. its ebit was $6 million, and its tax rate was 40%. what was its interest expense? [hint: write out the headings for an income statement and then fill in the known values. then divide $3 million net income by (1 - t) = 0.6 to find the pre-tax income. the difference between ebit and taxable income must be the interest expense. use this same procedure to work some of the other problems.] round your answer to the nearest dollar, if necessary

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