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Veseljchak [2.6K]
3 years ago
10

Molteni Motors Inc. recently reported $3 million of net income. Its EBIT was $6.75 million, and its tax rate was 40%. What was i

ts 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.) Round your answer to the nearest dollar. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000.
Business
1 answer:
blsea [12.9K]3 years ago
7 0

Answer:

Interest= $1750000

Explanation:

We know that:

EBIT

interest (-)

=earnings before taxes

tax (-)

=Net profit

EBIT= 6750000

Interest= ?

t= 0,40

Net profit= 3000000

interest= [netprofit/(1-t)]- EBIT

interest= (3000000/0,60)-6750000

interest= 1750000

Tax=(EBIT-interest)*0,35= 2000000

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Answer:

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(ii) Second degree price discrimination

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The statement that must be true about the demand for a product if it is inelastic is that, a price increase does not have a significant impact on buying habits. The correct answer would be option B. When the demand is inelastic, this situation means that the demand for a product does not decrease nor increase in corresponds to the rise or fall of its price.
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3 years ago
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Luis regularly reminds his team members of the purpose of their work and why they are important to the organization. He also reg
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6 0
3 years ago
Georgia’s gross pay was $35,600 this year. She is to pay a federal income tax of 16%. How much should Georgia pay in federal inc
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Correct option is C.

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In order to find federal income tax, calculate adjusted gross income.

Then from adjusted gross income,  subtract exemptions and deductions to get your taxable income.

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Learn more about Gross income, refer to the link:

brainly.com/question/547727

3 0
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Answer:

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