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A company sells one product, and its contribution margin ratio is 35%. The company provides the following data regarding their operation: Current sales revenue $3,120,000

A company sells one product, and its contribution margin ratio is 35%. The company provides the following data regarding their operation:

Current sales revenue $3,120,000

Expected sales revenue next year $3,244,800

Expected increase in net operating income next year 20%

Assuming that there is no change in total fixed expenses, what is the net operating income for the current year?

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