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Molteni Motors Inc. recently reported $ 6 million of net inc

Assignment Help Finance Molteni Motors Inc. recently reported $ 6 million of net inc

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Molteni Motors Inc. recently reported $ 6 million of net inc

Molteni Motors Inc. recently reported $ 6 million of net income. Its EBIT was $13 million, and its t… Show more Molteni Motors Inc. recently reported $ 6 million of net income. Its EBIT was $13 million, and its tax rate was 40%. What was its interest expense? [Hint: Write out the headings for an income statement and then fill in the known values. Then divide $3 million net income by (1 – T) = 0.6 to find the pre-tax income. The difference between EBIT and taxable income must be the interest expense. Please show steps • Show less

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