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What is the tie ratio for tracy salon

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Reference no: EM132665007

Problem 1: Tracy's Salon has $600,000 of interest-bearing debt outstanding, and it pays an annual interest rate of 7%. In addition, it has $600,000 of common stock on its balance sheet. It finances with only debt and common equity, so it has no preferred stock. Its annual sales are $2.7 million, its average tax rate is 35%, and its profit margin is 7%. What is its TIE ratio?

Reference no: EM132665007

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