Question
A firm's sales is $4,500,000, its cost of goods sold is $3,500,000 and its depreciation expense is $230,000. It pays a 5% annual interest rate
A firm's sales is $4,500,000, its cost of goods sold is $3,500,000 and its depreciation expense is $230,000. It pays a 5% annual interest rate on its bonds with par value $1,000,000. The firm's tax rate is 21%. What is the firm's times interest earned ratio?
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Handbook Of The Fundamentals Of Financial Decision Making
Authors: Leonard C MacLean, William T Ziemba
1st Edition
9814417343, 978-9814417341
