Multiple Choice
Lombardi Trucking Company has the following data: Assets: $10,000
Profit margin: 3.0%
Debt ratio: 60.0%
Interest rate: 10.0%
Tax rate: 40%
Total asset turnover: 2.0
What is Lombardi's TIE ratio?
A) 0.95
B) 1.75
C) 2.10
D) 2.67
E) 3.45
Correct Answer:
Verified
Correct Answer:
Verified
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