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In its financial statements KRJ International reported net income of $11 million and an effective tax rate of 23%. Total assets at the beginning of

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In its financial statements KRJ International reported net income of $11 million and an effective tax rate of 23%. Total assets at the beginning of the year were reported as $298 million and at the end of the year $336 million. The company reported LIFO reserve at the beginning of the year of $32 million and at the end of the year $46 million. Recalculate the company's net income (in 5 millions) after including the adjustment for LIFO, rounded to one decimal place, e.g. $12.3. In its financial statements KRJ International reported net income of $11 million and an effective tax rate of 23%. Total assets at the beginning of the year were reported as $298 million and at the end of the year $336 million. The company reported LIFO reserve at the beginning of the year of $32 million and at the end of the year $46 million. Recalculate the company's net income (in 5 millions) after including the adjustment for LIFO, rounded to one decimal place, e.g. $12.3

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