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A proposed new investment has projected sales of $ 6 5 0 , 0 0 0 . Variable costs are 3 7 percent of sales,

A proposed new investment has projected sales of $

650, 000 .

Variable costs are

37

percent of sales, and fixed costs are $

177, 000

; depreciation is $

86, 000 .

Assume a tax rate of

23

percent. What is the projected net income?

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