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During 2020, Duet Inc. earned $71,490 net income and paid $7,000 in interest expense. If Duet Inc. operating income during 2020 was $125,000. Assuming Duet
During 2020, Duet Inc. earned $71,490 net income and paid $7,000 in interest expense. If Duet Inc. operating income during 2020 was $125,000. Assuming Duet Inc. average tax rate is 40%, how much was Duet Inc. interest income during 2020?
- $950
- $750
- $1,150
- $119,150
- $150
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