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The balance sheet of Cedar Crest Resort reports total assets of $760,000 and $960,000 at the beginning and end of the year, respectively. The return

The balance sheet of Cedar Crest Resort reports total assets of $760,000 and $960,000 at the beginning and end of the year, respectively. The return on assets for the year is 16%. Calculate Cedar Crest's net income for the year.

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