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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First, find the least common denominator (LCD) of the two fractions.
Multiples of 16: 16
Multiples of 2: 2, 4, 6, 8, 10, 12, 14, 16
The LCD is 16.
Second, make the denominators the same as the LCD. / Your problem should look like:
Third, simplify. The denominators are now the same. / Your problem should look like:
Fourth, join the denominators. / Your problem should look like:
Fifth, simplify. / Your problem should look like:
Sixth, convert to mixed fraction. / Your problem should look like:
Answer: