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Given information for Smith Co . : Sales are $ 2 0 million, variable costs $ 1 2 million, operating costs are $ 4 million,

Given information for Smith Co.: Sales are $20 million, variable costs $12 million, operating costs are $4 million, depreciation expense $1 million. Interest expense 100,000. Taxes 30%. Dividend payout 30%.1,000,000 shares of common stock (c/s) outstanding. What is the gross profit?

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