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Use the following information: Gross profit 3,900,000 Loss on sale of investments 10,000 Interest expense 7,500 Gain on sale of discontinued operations 30,000 Income tax
Use the following information:
Gross profit | 3,900,000 |
Loss on sale of investments | 10,000 |
Interest expense | 7,500 |
Gain on sale of discontinued operations | 30,000 |
Income tax rate | 20% |
Compute the total amount of income tax expense experienced by the company.
| 782,500 |
| 800,000 |
| 1,005,000 |
| 765,000 |
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