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Question 3 (3 points) Given the following information, calculate net farm income: Gross revenue: $1,000,000 Operating expenses: $450,000 Interest expense: $50,000 Sale of capital assets:

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Question 3 (3 points) Given the following information, calculate net farm income: Gross revenue: $1,000,000 Operating expenses: $450,000 Interest expense: $50,000 Sale of capital assets: loss of $25,000 $525,000 $500,000 $475,000 $550,000

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