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A proposed new investment has projected sales of $695,000. Variable costs are 35 percent of sales, and fixed costs are $204,000; depreciation is $95,000. Assume

A proposed new investment has projected sales of $695,000. Variable costs are 35 percent of sales, and fixed costs are $204,000; depreciation is $95,000. Assume a tax rate of 22 percent. What is the projected net income

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