Delectable Parsnip, Inc.s, net income for the most recent year was $8,417. The tax rate was 21
Question:
Delectable Parsnip, Inc.’s, net income for the most recent year was $8,417. The tax rate was 21 percent. The firm paid $4,632 in total interest expense and deducted $5,105 in depreciation expense. What was the company’s cash coverage ratio for the year?
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Step by Step Answer:
Here we need to work the income statement backward to find the EBIT Starting ...View the full answer
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Related Book For 
Essentials of Corporate Finance
ISBN: 978-1260013955
10th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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