Patterson Brothers recently reported an EBITDA of $4.5 million and net income of $0.9 million. It...
Patterson Brothers recently reported an EBITDA of $4.5 million and net income of $0.9 million. It had $2.0 million of interest expense, and its corporate tax rate was 40%. What was its charge for depreciation and amortization?
Homework Answers
first let us know EBT
EBT = net income / (1- tax rate)
=>$0.9 million / (1-0.40)
=>$0.9 million / 0.60
=>$1.5 million
now,
EBIT = EBT + interest expense
=>$1.5 million + $2.0 million
=>$3.5 million
now,
Depreciation and amortization = EBITDA - EBIT
=>$4.5 million - $3.5 milllion
=>$1.0 million.
so charge for depreciation and amortization = $1.0 million.
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