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The CEO of Tom and Sue s wants the company to earn a net income of $ 3 . 1 0 0 million in 2

The CEO of Tom and Sues wants the company to earn a net income of $3.100 million in 2022. Cost of goods sold is expected to be 60 percent of net sales, depreciation and other operating expenses are not expected to change, interest expense is expected to increase to $1.296 million, and the firms tax rate will be 21 percent.

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