The difference between ebit

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Little Books reported $3 million of net income. Its Ebit was $6 million, and its tax rate was 40%. What is its interest expense (hint: write out the headings for an income statement and fill in the known values Then divide $3million of net income by (1-t) =0.6 to find the pre-tax income. The difference between EBIT and taxable income must be interest expense)

Reference no: EM13678261

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