Little books inc recently reported 13 million of net income

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Little Books Inc. recently reported $13 million of net income. Its EBIT was $28.6 million, and its tax rate was 35%. What was its interest expense? [Hint: Write out the headings for an income statement and then fill in the known values. Then divide $13 million net income by (1 - T) = 0.65 to find the pretax income. The difference between EBIT and taxable income must be the interest expense. Use this same procedure to complete similar problems.] Write out your answer completely

Reference no: EM13604088

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