Cecil, Inc. has sales of $682,100. Earnings before interest and taxes is equal to 20 percent of sales. For the period, the firm paid $8,500 in interest. The tax rate is 34 percent. What is the profit margin? Select one: a. 20.00 percent b. 12.38 percent O C. 13.20 percent d. 18,75 percent
Cecil, Inc. has sales of $682,100. Earnings before interest and taxes is equal to 20 percent of sales. For the period, the firm paid $8,500 in interest. The tax rate is 34 percent. What is the profit margin? Select one: a. 20.00 percent b. 12.38 percent O C. 13.20 percent d. 18,75 percent
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter6: Accounting For Financial Management
Section: Chapter Questions
Problem 3P
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