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Beginning of year: current assets = $280,000, long-term debt = $210,000, total liabilities = $420,000, shareholders equity = $55,000. End of year: current assets =

Beginning of year: current assets = $280,000, long-term debt = $210,000, total liabilities = $420,000, shareholders equity = $55,000. End of year: current assets = $258,000, long-term debt = 230,000, total liabilities = $400,000, shareholders equity = 75,000. Over the year: depreciation = $20,000, interest paid = $26,000, net income = $22,000, addition to retained earnings = $5,000. What is net new equity?

A.

Below $0

B.

Between $0 and $5,500

C.

Between $5,500 and $10,500

D.

Between $10,500 and $15,500

E.

Between $15,500 and $20,500

F.

Between $20,500 and $25,500

G.

Between $25,500 and $30,500

H.

Above $30,500

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