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Elgin Battery Manufacturers had sales of $990,000 in 2015 and their cost of goods sold is 653,400. Selling and administrative expenses were 99,000. Depreciation expense
Elgin Battery Manufacturers had sales of $990,000 in 2015 and their cost of goods sold is 653,400. Selling and administrative expenses were 99,000. Depreciation expense was $15,000 and interest expense for the year was $8,000. The firm's tax rate is 30 percent. What is the dollar amount of taxes paid in 2015?
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