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For the past year, Momsen, Ltd., had sales of $45,017, interest expense of $3,308, cost of goods sold of $15,434, selling and administrative expense of
For the past year, Momsen, Ltd., had sales of $45,017, interest expense of $3,308, cost of goods sold of $15,434, selling and administrative expense of $11,101, and depreciation of $5,400. If the tax rate was 40 percent, what was the company's net income?
Multiple Choice
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$4,541
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$9,774
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$12,525
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$6,842
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$5,864
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