EBIT Is $10,000 and Interest Expense Is $4,000

question 23

Multiple Choice

EBIT is $10,000 and interest expense is $4,000.If the tax rate is 30%,what is the net income?

• A)$3,800
• B)$4,200
• C)$5,200
• D)$8,400

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Definitions:

Michael Blakey

An American anthropologist, bioarchaeologist, and professor known for his work in the field of human skeletal biology and the study of historical impacts on African American populations.

Institution of Slavery

A social and economic system in which individuals are owned by others, deprived of personal freedom and forced to work.

Dalits

A term used in India and Nepal to refer to individuals historically regarded as belonging to the lowest caste in the caste system and subject to social exclusion and discrimination.

Lineage

Refers to the lineal descent from an ancestor, tracking family, clan, or cultural heritage through generations.