Answered: Little Books, Inc. recently reported…

Little Books, Inc. recently reported 3.100 million USD of net income. The firm's EBIT was 6.400 million USD. The firm's average tax rate was 40.0%. Calculate the interest expense.

Financial Management: Theory & Practice

16th Edition

ISBN:9781337909730

Author:Brigham

Publisher:Brigham

Chapter2: Financial Statements, Cash Flow,and Taxes

Section: Chapter Questions

Problem 7P

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Little Books, Inc. recently reported 3.100 million USD of net income. The firm's EBIT was 6.400 million USD. The firm's average tax rate was 40.0%. Calculate the interest expense.

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