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In 2016, Titans Electronics reported sales of $650,000. They also incurred operating costs of $300,000 and depreciation expenses of $20,000. The firm has $500,000 of
In 2016, Titans Electronics reported sales of $650,000. They also incurred operating costs of $300,000 and depreciation expenses of $20,000. The firm has $500,000 of outstanding bonds that pay 5% interest. If Titans Electronics faces a flat tax rate of 35%, what was its net income in 2016?
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