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If a firm has long - term debt, net income must equal: Multiple Choice Pretax income - Interest expense - Taxes. EBIT - Taxes. Toxes

If a firm has long

-

term debt, net income must equal:

Multiple Choice

Pretax income

-

Interest expense

-

Taxes.

EBIT

-

Taxes.

Toxes

+

Addition to retained earnings.

Operating income

(1 -

Marginal tax rate

) .

Dividends

+

Addition to retained earnings.

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