Multiple Choice
Tally Ho Inn has annual sales of $737,000.Earnings before interest and taxes is equal to 21 percent of sales.For the period,the firm paid $7,900 in interest.What is the profit margin if the tax rate is 35 percent?
A) 12.46 percent
B) 12.95 percent
C) 13.33 percent
D) 15.29 percent
E) 16.11 percent
Correct Answer:
Verified
Correct Answer:
Verified
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