A firm incurs $70,000 in interest expenses each year. If the tax rate of the firm is 30%, what is the effective after-tax intere
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<h3>Answer: 7.0 (choice E)</h3>
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Work Shown:
Let m = 2 so we can use this result later.
Let n = 5 so we can use this result later.
Add the two results.
m+n = 2 + 5 = 7.0 is the final answer.