Its bank agrees to lend up to 39 times its ebitda how much, Financial Management

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Its bank agrees to lend up to 39 times its ebitda how much

Suppose a firm has EBIT of $ 4.88 ?million, interest expenses of $ 1.69 ?million, depreciation expenses of $ 1.46 ?million, and has a tax rate of 35 percent. Its bank agrees to lend up to 3.9 times its EBITDA. How much debt can the firm borrow from the? bank? The maximum the firm can borrow is ? million. ?(Round to two decimal? places.)

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Financial Management: Its bank agrees to lend up to 39 times its ebitda how much

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Financial Management: Its bank agrees to lend up to 39 times its ebitda how much

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