Patterson Brothers recently reported an EBITDA of $8.8 million and a net income of $2.4 million. It had $2 million in interest expense, and its corporate tax rate was 45%. What was its charge for depreciation and amortization?

Patterson Brothers recently reported an EBITDA of $8.8 million and a net income of $2.4 million. It had $2 million in interest expense, and its corporate tax rate was 45%. What was its charge for depreciation and amortization?

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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Question

What was patterson's charge for depreciation??

Patterson Brothers recently reported an EBITDA of
$8.8 million and a net income of $2.4 million. It had $2
million in interest expense, and its corporate tax rate
was 45%.
What was its charge for depreciation and
amortization?

Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video

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Need help please
What was it's charge for depreciation and amortization of this financial accounting question?
What was its charge for depreciation and amortization of this financial accounting question?
Patterson recently reported EBITA of $14.5 million. It had $2.0 million of interest expense, and its corporate tax rate was 40%. What was its charge for depreciation and amortization?