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Elgin Battery Manufacturers had sales of $980,000 in 2009 and their cost of goods sold represented 64 percent of sales. Selling and administrative expenses were
Elgin Battery Manufacturers had sales of $980,000 in 2009 and their cost of goods sold represented 64 percent of sales. Selling and administrative expenses were 7 percent of sales. Depreciation expense was $20,000 and interest expense for the year was $12,000. The firm's tax rate is 27 percent. What is the dollar amount of taxes paid? |
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