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Sheryl s Shipping had sales last year of $ 1 2 , 5 0 0 . The cost of goods sold was $ 7 ,

Sheryls Shipping had sales last year of $12,500. The cost of
goods sold was $7,000, general and administrative expenses were
$1,500, interest expenses were $1,000, and depreciation was $1,500.
The firms tax rate is 40%.

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