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Jarris Inc. just paid $38,000 in corporate taxes, with its average tax rate at 25%. It spent $24,000 in interest expenses. Jarris Inc.'s cost of
Jarris Inc. just paid $38,000 in corporate taxes, with its average tax rate at 25%. It spent $24,000 in interest expenses. Jarris Inc.'s cost of goods sold was $190,000; its selling and administrative expenses were $30,000; its depreciation expense was $30,000 (not included in either the cost of goods sold, or in the selling and administrative expenses). What is Jarris Inc.'s operating income? a. $114,000 b. $214,000 c. $426,000 d. $152,000 e. $176,000
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