Mariota Industries has sales of $304,940 and costs of $153,070. The company paid $24,070 in interest and $12,550 in dividends. It also increased retained earnings by $63,542 during the year. If the company's depreciation was $15,335, what was its average tax rate? a. 30.92% b. 32.34% c. 47.80% d. 24.13% e. 11.93%

Mariota Industries has sales of $304,940 and costs of $153,070. The company paid $24,070 in interest and $12,550 in dividends. It also increased retained earnings by $63,542 during the year. If the company's depreciation was $15,335, what was its average tax rate? a. 30.92% b. 32.34% c. 47.80% d. 24.13% e. 11.93%

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 4P: Talbot Enterprises recently reported an EBITDA of $8 million and net income of $2.4 million. It had...

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