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Fraser Corporation has announced that its net income for the year ended June 30, 2017, was...

Fraser Corporation has announced that its net income for the year ended June 30, 2017, was 1,345,610. The company had EBITDA of 4,939,734, and its depreciation and amortization expense was equal to 1,256,753. The company’s average tax rate is 21 percent. What was its interest expense?

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Answer #1
EBITDA 4,939,734
Less:depreciation and amortization expense 1,256,753
EBIT 3682981
Less:interest expense(balance)(3682981-1703303.8) $1979677.2
EBT(100%)(1,345,610/0.79) 1703303.8
Less:Tax@21%(1703303.8*21%) 357693.8
Net income(79%) 1,345,610
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