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Charlotte Corporation's contribution margin ratio is 79% and its fixed monthly expenses are $ 48,000. Assume that the company's sales for May are expected to

Charlotte Corporation's contribution margin ratio is 79% and its fixed monthly expenses are $ 48,000. Assume that the company's sales for May are expected to be $ 107,000.

Required:

Estimate the company's net operating income for May, assuming that the fixed monthly expenses do not change.

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