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MPI Incorporated has $4 billion in assets, and its tax rate is 35%. Its basic...

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Accounting

MPI Incorporated has $4 billion in assets, and its tax rate is 35%. Its basic earning power (BEP) ratio is 8%, and its return on assets (ROA) is 3%. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below.

What is MPI's times-interest-earned (TIE) ratio? Round your answer to two decimal places.

TIE ratio
Total Assets $4,000,000,000.00
Tax Rate 35.00%
Basic Earning Power (BEP) Ratio 8.00%
Return on Assets (ROA) 3.00%
Formulas
EBIT #N/A
Net Income #N/A
Partial Income Statement:
EBIT $0.00
Interest #N/A
Earnings Before Taxes #N/A
Taxes #N/A
Net Income #N/A
TIE Ratio #N/A

Please show full formulas for answer. Thank you

Answer & Explanation Solved by verified expert
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