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The balance sheets of Davidson Corporation reported net fixed assets of $350,000 at the end of 2021. The fixed-asset turnover ratio for 2021 was 5.0,

The balance sheets of Davidson Corporation reported net fixed assets of $350,000 at the end of 2021. The fixed-asset turnover ratio for 2021 was 5.0, and sales for the year totaled $1,495,000. Net fixed assets at the end of 2020 were:

Multiple Choice

None of these answer choices are correct.
$197,000.
$299,000.
$248,000.

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