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The income statement of an all-equity firm reflects sales of $250,000, depreciation expense of $50,000, taxable income of $50,000, and an average tax rate of
The income statement of an all-equity firm reflects sales of $250,000, depreciation expense of $50,000, taxable income of $50,000, and an average tax rate of 18%. By how much does operating cash flow deviate from net income?
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