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Y3K, Inc., has sales of $7,535, total assets of $3,555, and a debtequity ratio of .40. Assume the return on equity is 16 percent. What

Y3K, Inc., has sales of $7,535, total assets of $3,555, and a debtequity ratio of .40. Assume the return on equity is 16 percent.

What is its net income? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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