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A proposed new investment has projected sales of $840,000. Variable costs are 55 percent of sales, and fixed costs are $173,000; depreciation is $74,000. Prepare

A proposed new investment has projected sales of $840,000. Variable costs are 55 percent of sales, and fixed costs are $173,000; depreciation is $74,000. Prepare a pro forma income statement assuming a tax rate of 35 percent. What is the projected net income?

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