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9) Last year, Baldwin Brothers had net cash flow of $1.2 million. Its depreciation expense of $500,000 was the company's only non-cash expense, and the
9) Last year, Baldwin Brothers had net cash flow of $1.2 million. Its depreciation expense of $500,000 was the company's only non-cash expense, and the company has zero non-cash revenues. Baldwin's operating income (EBIT) was $1.5 million, and its interest expense was $500,000. What was the company's average tax rate for the year? a. 20%
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Strategic Public Finance
Authors: Stephen Bailey
1st Edition
0333922212, 978-033392221
