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Elgin Battery Manufacturers had sales of $860,000 in 2021 and their cost of goods sold is 567,600. Selling and administrative expenses were 94,600. Depreciation expense
Elgin Battery Manufacturers had sales of $860,000 in 2021 and their cost of goods sold is 567,600. Selling and administrative expenses were 94,600. Depreciation expense was $8,000 and interest expense for the year was $11,000. The firm's tax rate is 32 percent. What is the dollar amount of taxes paid in 2021
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