Question: I need help with this question. I don't want an excel table. I need equations and formulas step by step in order to solve this

I need help with this question. I don't want an excel table. I need equations and formulas step by step in order to solve this problem. I need help with this question. I don't want an excel table.

3. Consider the following information of ALASKA PIPELINE. Sales Fixed costs Variable costs EBIT Interest 2019 $700,000 175,000 406,000 119,000 42,000 2020 $760,000 190,000 448,000 122,000 46,000 Shares outstanding in 2019: 100,000 Shares outstanding in 2020: 102,000 Marginal tax rate 40 percent Compute ALASKA's combine leverage (30 points)

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