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Lasso Inc. began the year with equity of $ 1 2 , 7 5 0 , 0 0 0 and 1 , 5 0 0

Lasso Inc. began the year with equity of $12,750,000 and 1,500,000 shares of stock outstanding. During the year the firm paid a dividend of $1.75 per share. Year-end equity was $11,323,000. Assuming no other factors impacted equity, what was Lassos net income for the year?

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