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6) During 2018, Max's Macs and Masks, Co. had sales of $705,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $445,000,
6) During 2018, Max's Macs and Masks, Co. had sales of $705,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $445,000, $50,000, and $140,000, respectively. In addition, the company had fully deductible interest expenses of $70,000 and faces a tax rate of 25% on income. The net income for 2018 is: A) $45,000 B) $26,000 C) $0 D) $26,000 E) $45,000
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