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If a company has sales of $60,000, a gross margin of 40%, and fixed costs of $30,000, the earnings before interest and taxes are: A)

If a company has sales of $60,000, a gross margin of 40%, and fixed costs of $30,000, the earnings before interest and taxes are:

A) $24,000

B) $15,000

C) $0 (breakeven)

D) -$15,000

E) -$24,000

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