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Lever Age pays an 9% rate of interest on $11.00 million of outstanding debt with face value $11 million. The firm's EBIT was $2 million.

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Lever Age pays an 9% rate of interest on $11.00 million of outstanding debt with face value $11 million. The firm's EBIT was $2 million. a. What is its times interest earned? Note: Round your answer to 2 decimal places. b. If depreciation is $300,000, what is its cash coverage ratio? Note: Round your answer to 2 decimal places

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