Business, 13.07.2021 19:30 bumpydumper
The Morris Corporation has $1,000,000 of debt outstanding, and it pays an interest rate of 9% annually. Morris's annual sales are $5 million, its average tax rate is 40%, and its net profit margin on sales is 8%. If the company does not maintain a TIE ratio of at least 4 to 1, then its bank will refuse to renew the loan, and bankruptcy will result. What is Morris's TIE ratio
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The Morris Corporation has $1,000,000 of debt outstanding, and it pays an interest rate of 9% annual...
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