Lever age pays a rate of interest of 8 on 109 million of, Accounting Basics

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Lever age pays a rate of interest of 8 on 109 million of

Question: Lever Age pays a rate of interest of 8% on $10.9 million of outstanding debt with face value $10.9 million. The firm's EBIT was $1.9 million.

a. What is its times interest earned? (Round your answer to 2 decimal places.) Times interest earned

b. If depreciation is $290,000, what is its cash coverage? (Round your answer to 2 decimal places.) Cash coverage ratio.

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Accounting Basics: Lever age pays a rate of interest of 8 on 109 million of

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Accounting Basics: Lever age pays a rate of interest of 8 on 109 million of

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