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Extracts from the projected income statement of SD for the year to 30 June 20X1 shows the following figures.
The directors of SD co estimate that the additional purchase of new equipment on 1 July 20X1 for $140,000 would increase the projected profit for the year by $18,000. The machine would be financed by a loan raised on 1 July 20X1 with a coupon rate of 5%. What would the projected interest cover for the company become if the directors purchased the new machine? A. 2.51 B. 0.94 C. 2.13 D. 0.66 |