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Whipporwill Incorporated's net income. for the most recent year was $15,950. The tax rate was 24 percent. The firm paid $3,880 in total interest expense and deducted $5,120 in depreciation expense. What was the company's cash coverage ratio for the year? Round your answer to 2 decimal places.

Whipporwill Incorporated's net income. for the most recent year was $15,950. The tax rate was 24 percent. The firm paid $3,880 in total interest expense and deducted $5,120 in depreciation expense. What was the company's cash coverage ratio for the year? Round your answer to 2 decimal places.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Whipporwill Incorporated's net income. for the most recent year was $15,950. The tax rate was 24 percent. The firm paid $3,880 in total interest expense and deducted $5,120 in depreciation expense. What was the company's cash coverage ratio for the year? Round your answer to 2 decimal places.
Transcribed Image Text:Whipporwill Incorporated's net income. for the most recent year was $15,950. The tax rate was 24 percent. The firm paid $3,880 in total interest expense and deducted $5,120 in depreciation expense. What was the company's cash coverage ratio for the year? Round your answer to 2 decimal places.
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