The following data are for the 2018 fiscal year of Meme-Me Corporation and Sozhal Incorporated....
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Accounting
The following data are for the 2018 fiscal year of Meme-Me Corporation and Sozhal Incorporated. All dollar amounts are in thousands.
Account Title
Meme-Me Corporation
Sozhal Incorporated
Current assets
$135,976
$50,981
Total assets
232,798
97,413
Current liabilities
35,374
7,069
Total liabilities
54,208
13,757
Stockholders equity
178,590
85,090
Interest expense
116
27
Income tax expense
4,218
3,344
Net income
31,124
22,612
Meme-Me Corporation reported interest expense of $114 million, before taxes. What was its after-tax interest expense in dollars? (Hint: You will need to compute its tax rate by dividing income tax expense by earnings before taxes, which must be computed.) (Enter your answer in millions (e.g. $4,000,000 would be entered as $4). Round your intermediate calculations to 1 decimal place. Round your answer to 2 decimal places.)
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