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Franklin Farms has sales of S651,600, costs 0f $379,700, depreciation expense of $32, 100, net working capital of $1,500, and interest paid of $8,400. In

Franklin Farms has sales of S651,600, costs 0f $379,700, depreciation expense of $32, 100, net working capital of $1,500, and interest paid of $8,400. In addition, Franklin Farms had purchased new capital equipment { $432,879. The tax rate is 20 percent. How much net income did the firm carn for the period? Show calculations.

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