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Lightning, Inc., has sales of $682,000, costs of $340,000, depreciation expense of $85,000, interest expense of $50,000, and a tax rate of 22 percent. What
Lightning, Inc., has sales of $682,000, costs of $340,000, depreciation expense of $85,000, interest expense of $50,000, and a tax rate of 22 percent. What is the net income for this firm? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Net income Maria Lipa is single and had $192,000 in taxable income. Use the rates from Table 2.3. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Calculate her income taxes. Income taxes
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