Multiple Choice
The times interest earned ratio of McHugh Company was 4.5 times.The interest expense for the year was $20,000,and the company's tax rate was 40%.What was the company's net income?
A) $22,000.
B) $42,000.
C) $54,000.
D) $66,000.
Correct Answer:
Verified
Correct Answer:
Verified
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