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You have the following 2020 data for York Inc. ($ millions) 2020 EBIT $19.50 Interest Expense $2.00 Pre-tax Income $17.50 Income Tax $5.25 Net Income
You have the following 2020 data for York Inc. ($ millions) 2020 EBIT $19.50 Interest Expense $2.00 Pre-tax Income $17.50 Income Tax $5.25 Net Income $12.25 Stockholders Equity $15.00 For 2021, EBIT is forecast to grow 10% and Debt will be $30 million at 8% interest. What will 2021 Stockholders Equity be if York has a dividend payout rate of 70% and a 30% tax rate
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