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Sandy Banks Corp. had the following results for the past year: depreciation expense $148,265; cost of goods sold $267,203; and sales $623,802. What was the

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Sandy Banks Corp. had the following results for the past year: depreciation expense $148,265; cost of goods sold $267,203; and sales $623,802. What was the net income for the past year if the firm faces a tax rate of 40% ? $125,000 $125,417 $135,000 $135,417

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