apple interest coverage ratio? Equity: Issue 5,000 common shares with a current market price of $24 each. Given info before new funding Current debt outstanding is $525,000 with 8% interest and $61,000 principle payments annually Current equity is $524,000 with 40,000 common shares and $2.45 dividend per share annually EBIT is expected to be $1,240,000 Tax rate 21% Industry average for Interest Coverage Ratio = 20.0