Byron Books Inc. recently reported $13 million of net income. Its EBIT was $20.8 million, and its tax rate was 35%. What was its interest expense? (Hint: Write out the headings for an income statement, and fill in the known values. Then divide $13 million of net income by to find the pretax income. The difference between EBIT and taxable income must be interest expense. Use this same procedure to complete similar problems.)

$800,000

Explanation:

net income = (EBIT - interest expense) x (1 - tax rate)

$13,000,000 = ($20,800,000 - interest expense) x (1 - 35%)

$13,000,000 = ($20,800,000 - interest expense) x 0.65

$13,000,000 = $13,520,000 - 0.65interest expense

0.65interest expense = $13,520,000 - $13,000,000 = $520,000

interest expense = $520,000 / 0.65 = $800,000

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

answer; by looking at total product,marginal product,and changes in both after changes in inputs