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A proposed new investment has projected sales of $850,000. Variable costs are 60 percent of sales, and fixed costs are $275,000. Depreciation is $83,000. Prepare

A proposed new investment has projected sales of $850,000. Variable costs are 60 percent of sales, and fixed costs are $275,000. Depreciation is $83,000. Prepare a pro forma income statement assuming a tax rate of 21 percent. What is the projected Net Income?

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