bugh Syron Books Inc. recently reported $18 million of net income. Its EBIT was $25.2 million, and its tax rate was 25%. What was its interest expense? (Hint: Wr out the headings for an income statement, and then fillI in the known values. Then divide $18 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. 18000000

bugh Syron Books Inc. recently reported $18 million of net income. Its EBIT was $25.2 million, and its tax rate was 25%. What was its interest expense? (Hint: Wr out the headings for an income statement, and then fillI in the known values. Then divide $18 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. 18000000

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter2: Analysis Of Financial Statements

Section: Chapter Questions

Problem 18PROB

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