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Question 15 1 pts See the explanation below to work the problem. XYZ Company, a 'for-profit' business, had revenues of $20 million in 2019. Expenses

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Question 15 1 pts See the explanation below to work the problem. XYZ Company, a 'for-profit' business, had revenues of $20 million in 2019. Expenses other than depreciation totaled 70 percent of revenues. XYZ Company, must pay taxes at a rate of 40 percent of pretax (operating) income. All revenues were collected in cash during the year, and all expenses other than depreciation were paid in cash. Depreciation originally was $3 million; however, now the company has decided to be more conservative in its depreciation of its capital assets. XYZ now has $1.5 million in depreciation expense instead of $3 million. Based on this change in depreciation expense, what would XYZ's total profit margin

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