If a Company Had Net Income of $1,486,875,a Times Interest

question 112

Multiple Choice

If a company had net income of $1,486,875,a times interest earned ratio of 4.0,a tax rate of 35%,and operating income of $3,050,000,what is the company's interest expense for the year?

• A)$1,067,500
• B)$725,329
• C)$371,719
• D)$762,500
• E)$1,564,000

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