Question
Lever Age pays an 8% rate of interest on $9.50 million of outstanding debt with face value $9.5 million. The firm's EBIT was $2.5 million.
Lever Age pays an 8% rate of interest on $9.50 million of outstanding debt with face value $9.5 million. The firm's EBIT was $2.5 million.
If depreciation is $150,000, what is its cash coverage ratio?(Round your answer to 2 decimal places.)
Cash coverage ratio:
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Financial And Managerial Accounting
Authors: Jan R. Williams, Joseph V. Carcello, Mark S. Bettner, Sue Haka, Susan F. Haka
14th International Edition
0071101217, 9780071101219
