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Question
Lombardi Trucking Company has the following data:
Assets: $10,000 Profit margin: 3.0%
Debt ratio: 60.0% Interest rate: 10.0%
Tax rate: 40% Total asset turnover: 2.0
What is Lombardi's TIE ratio?
a. 0.95
b. 1.75
c. 2.10
d. 2.67
e. 3.45
Answer
This answer is hidden. It contains 179 characters.
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