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08-16-2008, 06:06 PM
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Total fixed charges
On page 512 in The Intelligent Investor by Benjamin Graham book has been said:
"For example, a railroad should have earned its total fixed charges better than five times (before income tax), taking a period of years, for its bonds to qualify as investment-grade issues." What he meant with "total fixed charges"? Could you please give me example of it?     
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