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Lorna Doom Inc. has an annual interest expense of $30,000 and pays income taxes equal to 40 percent of taxable income (EBT). Lorna Doom's time-interest-earning

Lorna Doom Inc. has an annual interest expense of $30,000 and pays income taxes equal to 40 percent of taxable income (EBT). Lorna Doom's time-interest-earning ratio is 4.2. What is Lorna Doom's net income?

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