Multiple Choice
A firm has total interest charges of $10,000 per year, sales of $1 million, a tax rate of 40 percent, and a net profit margin of 6 percent. What is the firm's times-interest-earned ratio?
A) 16
B) 10
C) 7
D) 11
E) 20
Correct Answer:
Verified
Correct Answer:
Verified
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