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Y3K, Incorporated, has sales of $7,475, total assets of $3,525, and a debt-equity ratio of .34. Assume the return on equity is 20 percent.

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Y3K, Incorporated, has sales of $7,475, total assets of $3,525, and a debt-equity ratio of .34. Assume the return on equity is 20 percent. What is its net income? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Net income I

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