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Q1/ Equity matures after a fixed period, while debt securities do not mature. 1. True 2. False Q2/ Your firm has the following income statement

Q1/ Equity matures after a fixed period, while debt securities do not mature.

1. True

2. False

Q2/ Your firm has the following income statement items: sales of $52,000,000; income tax of $1,880,000; operating expenses of $9,000,000; cost of goods sold of $36,000,000; and interest expense of $800,000. Compute the firm's gross profit margin.(show your work in details)

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