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3. Joelf ES reported $9250 of sales, $5750 of operating costs, and $700 of depreciation. The company has $3200 of outstanding bonds that carry a

3. Joelf ES reported $9250 of sales, $5750 of operating costs, and $700 of depreciation. The company has $3200 of outstanding bonds
that carry a 5% rate, and its tax rate is 35%. The firm was required to make $498 of capital expenditures on new assets. What is the firm's
net income?
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