Business, 20.09.2020 14:01 akeemsimpson15p2034o

Alumbat Corporation has $800,000 in debt outstanding, and pays an interest rate of 10 percent annually on its bank loan. Alumbat's annual sales are $3,200,000, its average tax rate is 40 percent, and its net profit margin on sales is 6 percent. If the company does not maintain a TIE ratio of at least 4 times, its bank will refuse to renew its loan, and bankruptcy will result. Alumbat's current times interest earned ratio is:

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Alumbat Corporation has $800,000 in debt outstanding, and pays an interest rate of 10 percent annual...

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