Solved: What is break-even level of operating income, Accounting Basics

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What is break-even level of operating income

Question:

Home Depot has 1.70 billion shares of common stock outstanding in 2008, whereas Lowes had 1.46 billion shares outstanding. Assume Home Depot's 2008 interest expense is $696 million, Lowes' interest expense is $239 million, and a 35 percent tax rate for both firms, what is their break-even level of operating income?

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