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The table below provides selected financial data for the Vogon Construction Co. in Years t and t-1. Selected Financial Information Vogon Construction Co. Interest
The table below provides selected financial data for the Vogon Construction Co. in Years t and t-1. Selected Financial Information Vogon Construction Co. Interest Expense Short-Term Debt Long-Term Debt Total Liabilities % Year t-1 32.4 61.0 140.0 461.0 Year t 12.6 67.1 35.3 388.4 What interest rate (on average) does the company pay on its borrowed funds? Express your answer in percentage form rounded to one decimal place.
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Financial Accounting
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
3rd edition
9780077506902, 78025540, 77506901, 978-0078025549
