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LaSalle Inc.'s 20X2 and 20X1 Income Statement is as follows: 20X2 20X1 Revenues $56037 $53335 Cost of goods sold 18513 18795 Gross profit 37524 34540
LaSalle Inc.'s 20X2 and 20X1 Income Statement is as follows: 20X2 20X1 Revenues $56037 $53335 Cost of goods sold 18513 18795 Gross profit 37524 34540 Research and development 7779 7101 Sales and marketing 7340 4800 General and administrative 4027 3070 Operating income $18378 $19569 Other income, net 1116 224 Income before income taxes $19494 $19792 Income tax expense 5567 4257 Net income $13927 $15535 Cash paid for income taxes $2849 $1077 What is its 20X2 cash effective tax rate? (Please round to 3 decimal places. For example: 0.123.) Answer:Question 14
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