Business, 24.09.2020 21:01 jerzie53

eBook Problem Walk-Through Byron Books Inc. recently reported $12 million of net income. Its EBIT was $28.6 million, and its tax rate was 25%. What was its interest expense? (Hint: Write out the headings for an income statement, and then fill in the known values. Then divide $12 million of net income by (1 - T) = 0.75 to find the pretax income. The difference between EBIT and taxable income must be interest expense. Use this same procedure to complete similar problems.) Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary. Do not round intermediate calculations.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 12:40

Evan company reports net income of $232,000 each year and declares an annual cash dividend of $100,000. the company holds net assets of $2,130,000 on january 1, 2017. on that date, shalina purchases 40 percent of evan's outstanding common stock for $1,066,000, which gives it the ability to significantly influence evan. at the purchase date, the excess of shalina’s cost over its proportionate share of evan’s book value was assigned to goodwill. on december 31, 2019, what is the investment in evan company balance (equity method) in shalina’s financial records?

Answers: 2

Answer

Business, 22.06.2019 20:00

A$100 million interest rate swap has a remaining life of 10 months. under the terms of the swap, the six-month libor is exchanged semi-annually for 12% per annum. the six-month libor rate in swaps of all maturities is currently 10% per annum with continuous compounding. the six-month libor rate was 9.6% per annum two months ago. what is the current value of the swap to the party paying floating? what is its value to the party paying fixed?

Answers: 2

Answer

Business, 23.06.2019 07:00

Ricardo conducts a survey to learn where consumers get information for buying used cars. this is an example of

Answers: 1

Answer

Business, 23.06.2019 08:00

Using an organization with which you are familiar, identify its corporate culture and the elements of its observable culture. what do you think would need change in order to facilitate innovation? what role would organizational development play in overcoming resistance to change?

Answers: 3

Answer

You know the right answer?

eBook Problem Walk-Through Byron Books Inc. recently reported $12 million of net income. Its EBIT wa...

Questions

SAT, 15.12.2021 14:00

Which absolute value function, when graphed, will be narrower than the graph of the parent function, f(x) = |x|? f(x) = |x| – 3 f(x) = |x 2| f(x) = 0....