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Suppose the marginal interest rate is 21%. Hased on the following income statement, the after-tax operating margin (NOPL.AT/sales) is % begin{tabular}{lc} $ million & Current
Suppose the marginal interest rate is 21%. Hased on the following income statement, the after-tax operating margin (NOPL.AT/sales) is % \begin{tabular}{lc} $ million & Current \\ Income Statement & year \\ \hline Revenues & 2,000 \\ Cost of sales & (1,200) \\ Selling, general, and administrative & (150) \\ Depreciation & (50) \\ Operating profit & 600 \\ interest expense & (100) \\ Equity income & 50 \\ Earnings before taxes & 550 \\ Taxes & (165) \\ Net income & 435 \end{tabular}
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