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Mia Co made an operating profit of $2m last year and had an interest cover ratio of four times, It is considering a new project which will increase operating profit by 30% and will require addmunal debit finance of Stim, to be raised, on which Mia Co will be charged interest. Assuming the finance is raised and the project goes ahead, what will be the new interest cover ratio (to two decimal places)?
Sagot :
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