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Flatbush Tires sold tires and rims worth $1602 to a customer on credit, who later disappeared without paying anything. The company's cost of goods sold

Flatbush Tires sold tires and rims worth $1602 to a customer on credit, who later disappeared without paying anything. The company's cost of goods sold averages about 75% of revenues. How much is the company's pre-tax income reduced by this default? Enter the correct amount, rounded to the nearest dollar, without the "$

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