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Last​ year, InDebt Company paid ​$67 million of interest​ expense, and its average rate of interest...

Last​ year, InDebt Company paid ​$67 million of interest​ expense, and its average rate of interest for the year was 10.0​%. The​ company's ROE is 15.8​%, and it pays no dividends. Estimate next​ year's interest expense assuming that interest rates will fall by 19​% and the company keeps a constant equity multiplier of​ 20%.

Next​ year's estimated interest expense is

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jeff jeffy answered 2 months ago
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