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Jackson Inc. recently reported $100,000 of sales, $40,000 of operating costs other than depreciation, and $10,000 of depreciation. The company had $20,000 of outstanding bonds

Jackson Inc. recently reported $100,000 of sales, $40,000 of operating costs other than depreciation, and $10,000 of depreciation. The company had $20,000 of outstanding bonds that carry a 10% interest rate, and its federal-plus-state income tax rate was 30%. How much was the firm's net income?

$38,966

$37,000

$33,600

$43,068

$35,167

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