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Bania Inc. recently reported $157,000 of sales, $79,750 of operating costs other than depreciation, and $11,700 of depreciation. The company had $17,750 of outstanding bonds
Bania Inc. recently reported $157,000 of sales, $79,750 of operating costs other than depreciation, and $11,700 of depreciation. The company had $17,750 of outstanding bonds that carry a 5% interest rate, and its federal-plus-state income tax rate was 25%. How much was Banias net income?
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