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The CEO of Tom and Sue's wants the company to earn a net income of $ 3 . 2 5 million in 2 0 1

The CEO of Tom and Sue's wants the company to earn a net income of $3.25 million in 2018. Cost of goods sold is expected to be 60 percent of net sales, depreciation expense is $2.9 million, interest expense is expected to increase to $1.050 million, and the firm's tax rate will be 30 percent. Calculate the net sales needed to produce net income of $3.25 million.
$28.25 million
$29.36 million
$21.48 million
$26.02 million

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