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Quantum Technology, in a detailed paragraph, provides its financial data for the year ended December 31, 20X7: Quantum Technology generated total revenue of $80 million

Quantum Technology, in a detailed paragraph, provides its financial data for the year ended December 31, 20X7:
Quantum Technology generated total revenue of $80 million during the fiscal year. The company incurred $30 million in operating expenses and $10 million in interest expenses. Calculate Quantum Technology's net income for the year, considering a tax rate of 25%.

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