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14. Precious Metal Mining has $17 million in sales, its ROE is 16%, and its total assets turnover is 2.5. Common equity on the firms

14. Precious Metal Mining has $17 million in sales, its ROE is 16%, and its total assets turnover is 2.5. Common equity on the firms balance sheet is 50% of its total assets. What is its net income? Do not round intermediate calculations. Round your answer to the nearest cent.

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