Apply the distributive property. Simplify when possible. 
Definitions:
Capital Structure
The mix of various types of debt and equity that a company uses to finance its operations.
Tax Rate
The proportion of one's earnings or company profits that is required to be paid as tax.
Degree Of Financial Leverage (DFL)
A measure that evaluates the sensitivity of a company's earnings per share to fluctuations in its operating income, indicating financial risk.
Interest
The return on a debt investment.
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