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A proposed new investment has projected sales of $ 5 1 5 , 0 0 0 . Variable costs are 4 0 percent of sales,

A proposed new investment has projected sales of $515,000. Variable costs are 40 percent of sales, and fixed costs are $134,500; depreciation is $52,750. Prepare a pro forma income statement assuming a tax rate of 21 percent. What is the projected net income? (Input all amounts as positive values. Do not round Intermedlate calculations.)
\table[[Sales,],[Variable costs,],[Fixed costs,],[Depreciation,],[EBT,],[Taxes,],[Net income,]]
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