in the past year TVG had revenues of 3 million, cost of goods sold of $25...
in the past year TVG had revenues of 3 million, cost of goods sold of $25 million and depreciation expense of $200000. The firm has a single issue of debt outstanding with a face value of $1 million, market value of $9.2 million, and a coupon rate of 8%. What is the firms times interest earned ratio?
Homework Answers
| EBIT ( 3,000,000 - 2,500,000 - 200,000) | 300,000 |
| interest expense ($1,000,000*8%) | $80,000 |
| times interest earned (interest expense / EBIT) => ($80,000/300,000) |
3.75 times |
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in the past year TVG had revenues of 3 million, cost
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