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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
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$91,000
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$500,000
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$49,000
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$175,000
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