Question
Last year the Rondoelea Products Company had $143 million in annual sales and a net profit margin of 10.1 percent. In addition, Rondoelea's average tax
Last year the Rondoelea Products Company had $143million in annual sales and a net profit margin of 10.1 percent. In addition, Rondoelea's average tax rate was 30 percent. If Rondoelea had $38 million of debt outstanding with an average interest rate of 10.5 percent, what is the firm's times interest earned ratio?
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Financial Management Principles and Applications
Authors: Sheridan Titman, Arthur J. Keown, John H. Martin
13th edition
134417216, 978-0134417509, 013441750X, 978-0134417219
