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During the current fiscal year, a company had revenues of $500,000, cost of goods sold of $360,000, and an income tax rate of 35 percent

During the current fiscal year, a company had revenues of $500,000, cost of goods sold of $360,000, and an income tax rate of 35 percent on income before income taxes. What was the company's current year net income?

Multiple Choice

  • $91,000

  • $500,000

  • $49,000

  • $175,000

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