Question 1 gammell company issued 51400 of 9 bonds with, Ask an Expert

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Question: 1. Gammell Company issued $51,400 of 9% bonds with annual interest payments. The bonds mature in ten years. The bonds were issued at $48,700. Gammel Company uses the straight-line method of amortization. How much is the annual interest expense?

2. Wildlife Co. reported net income of $12.30 million, interest expense of $0.66 million and is are in a 30% tax rate bracket. Wildlife's average total assets are $81.80 million and average stockholders' equity is $51.80 million. Wildlife's financial leverage percentage is closest to: (Do not round intermediate computations)

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92710045

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