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eBook Problem Walk-Through Precious Metal Mining has $17 million in sales, its ROE is 15%, and its total assets turnover is 2.5x. Common equity on

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eBook Problem Walk-Through Precious Metal Mining has $17 million in sales, its ROE is 15%, and its total assets turnover is 2.5x. Common equity on the firm's balance sheet is 50% of its total assets. What is its net income? Do not round intermediate calculations. Round your answer to the nearest cent. $

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