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A firm has has annual costs of goods sold of $ 4 2 , 6 0 0 , interest expense of $ 6 5 0

A firm has has annual costs of goods sold of $42,600, interest expense of $650, selling and administrative expenses of $7,800, dividends paid of $1,200, depreciation of 1,100 and a tax rate of 21 percent. The firm added $2,500 to retained earnings during the year. What is the firm's taxable income.

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