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show your work You have the following projections about the costs in a family restaurant for next year: Net income required: 22% after income tax
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You have the following projections about the costs in a family restaurant for next year: Net income required: 22% after income tax on the owner's present investment of $80,000, income tax rate is 28%. Depreciation: Present book value (consolidated) of furniture and equipment is $76,000, depreciation rate is 20%. Interest: Interest on a loan outstanding of $35,000 is 8%. o. What is the required average check needed to achieve the annual sales revenue objective if the restaurant is open 365 days, had 60 seats, and had an average seat turnover of 2.5 times per dayStep by Step Solution
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