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no excel no fin calc Calculating Projected Net Income [LO1] A proposed new investment has pro- jected sales of $585,000. Variable costs are 44 percent

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Calculating Projected Net Income [LO1] A proposed new investment has pro- jected sales of $585,000. Variable costs are 44 percent of sales, and fixed costs are $187,000; depreciation is $51,000. Prepare a pro forma income statement assuming a tax rate of 21 percent. What is the projected net income

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