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Biglo Chemical Company reported the following in the statement of comprehensive income for the year ended December 31: Income from continuing operations before tax Income
Biglo Chemical Company reported the following in the statement of comprehensive income for the year ended December 31: Income from continuing operations before tax Income tax expense Net income Other comprehensive income Comprehensive income $600,000 (140,000) 460,000 110,000 240,000 During the year, the company paid $60,000 in dividends and purchased treasury stock with a par value of $10,000 at a cost of $70,000. If the balance of Retained Earnings at the beginning of the year was $380,000, what is the balance of Retained Earnings at the end of the year? Anne wants to accumulate $20,000 by December 31, 2019. To accumulate that sum, she will make twelve equal quarterly deposits of $1,576.98 at the end of March, June, September, and December for the next three years, beginning on March 31, 2016, into a fund that earns interest compounded quarterly. What annual rate of interest must the fund provide to yield the desired sum? (Use spreadsheet software or a financial calculator to calculate your answer. Do not round any intermediary calculations, and round your final answer to the nearest year.)
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