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lestion #3 [10 marks]: A firm's income statement includes the following data. The firm's average tax rate was 10%. Depreciation is NOT included in the

lestion \#3 [10 marks]: A firm's income statement includes the following data. The firm's average tax rate was 10%. Depreciation is NOT included in the cost of goods sold or administrative expenses. a. What was the firm's profit before tax and profit after tax? [3+2 marks] Answer: b. What must have been firm's revenue? [3 marks] Answer: c. What was EBIT? [2 marks]

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