Last year the Rondoelea Products Company had $140 million in annual sales and a net profit margin
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Last year the Rondoelea Products Company had $140 million in annual sales and a net profit margin of 10 percent. In addition, Rondoelea’s average tax rate was 30 percent. If Rondoelea had $40 million of debt outstanding with an average interest rate of 10 percent, what is the firm’s times interest earned ratio?
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Related Book For
Financial Management Principles and Applications
ISBN: 978-0133423822
12th edition
Authors: Sheridan Titman, Arthur Keown, John Martin
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