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Last year the sales at Summit Corporation were $400,000 and were all cash sales. The expenses at Summit were $250,000 and were all cash expenses.

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Last year the sales at Summit Corporation were $400,000 and were all cash sales. The expenses at Summit were $250,000 and were all cash expenses. The tax rate was 40%. The after-tax net cash inflow at Summit last year was: Multiple Choice $150,000 $60,000 $90,000 $400,000

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