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Reed Corporation reports Year 7 sales of $374 million, income before income taxes of $110.1 million and tax expense of $32.3 million. If sales are

Reed Corporation reports Year 7 sales of $374 million, income before income taxes of $110.1 million and tax expense of $32.3 million. If sales are projected to increase by 4% next year, projected tax expense for Year 8 will be:

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