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If Jefferson Company paid a bonus equal to 10% of net income after bonuses and the total bonus distributed was $350,000, how much was net

If Jefferson Company paid a bonus equal to 10% of net income after bonuses and the total bonus distributed was $350,000, how much was net income for the year?

$3,500,000

$3,850,000

$4,500,000

$2,500,000

$3,055,000

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