The Capital structure of ABC Ltd, is as under:

Equity share capital 100 Lacs

10% Debentures 50 Lacs

The sales for the year 2019 are 1.5 Lac units@ 40per unit

Also, the variable cost per unit is 20 % of sales revenue

12 Lacs is the fixed operating cost.

Assume Income tax rate as 40 %

Calculate Operating, Financial and Combined Leverage of the firm and interpret the result.