Wildhorse Corporation recently reported an EBITDA of $32.90 million and net income of $9.7 million. The...
Wildhorse Corporation recently reported an EBITDA of $32.90 million and net income of $9.7 million. The company had $6.8 million in interest expense, and it's average corporate tax rate was 35 percent. What was its depreciation and amortization expense? (Round answer to 2 decimal places and enter your answer in dollars, e.g. 9,700,000.25)
Depreciation and amortization = $___
Homework Answers
EBT = Net income / (1 - Tax) = $9,700,000 / (1 - 0.35) = $14,923,076.92
EBIT = EBT + Interest expense = $14,923,076.92 + $6,800,000 = $21,723,076.92
Depreciation and amortization = EBITDA - EBIT = $32,900,000 - $21,723,076.92 = $11,176,923.08
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