Corporate Finance Q111
111A manufacturing company has the following income statement.
| Income Statement | $ millions |
| Revenues | 1100 |
| Variable costs | 450 |
| Fixed costs | 225 |
| EBIT | 425 |
| Interest | 70 |
| Taxable Income | 355 |
| Tax | 142 |
| Net Income | 213 |
The degree of total leverage for the company is closest to:.
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