Consider the following income statement for Aldi-Woolworths Inc. (all figures in $ Millions): Year Total Sales...

 

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Consider the following income statement for Aldi-Woolworths Inc. (all figures in $ Millions): Year Total Sales Cost of goods sold Selling, General & Admin expenses Depreciation 2014 2015 2016 60,553 56.43 53,79 1 39,63 7 45,565 42,14 11,688 12,19 11,57 1,265 1,256 1,209 Operating Income 2,035 847 1,370 Other Income 0 ° 0 EBIT 2,035 847 1,370 Interest expense 510 557 604 Earnings before tax 1,525 290 766 Taxes (35%) 534 102 268 Net Income 991 189 498 The interest tax shield for Aldi-Woolworths Inc. in 2016 is closest to: Consider the following income statement for Aldi-Woolworths Inc. (all figures in $ Millions): Year Total Sales Cost of goods sold Selling, General & Admin expenses Depreciation 2014 2015 2016 60,553 56.43 53,79 1 39,63 7 45,565 42,14 11,688 12,19 11,57 1,265 1,256 1,209 Operating Income 2,035 847 1,370 Other Income 0 ° 0 EBIT 2,035 847 1,370 Interest expense 510 557 604 Earnings before tax 1,525 290 766 Taxes (35%) 534 102 268 Net Income 991 189 498 The interest tax shield for Aldi-Woolworths Inc. in 2016 is closest to:

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To calculate the interest tax shield for AldiWoolworths Inc in 2016 we need to find th... View the full answer