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You own a construction company with a revenue of $ 4 0 0 , 0 0 0 . The direct costs of producing goods are

You own a construction company with a revenue of $400,000. The direct costs of producing goods are $320,000. Your annual general overhead is $45,000 that includes $7200 in meals and entertainment; $1600 in office supplies; $1200 in bad debt; $1600 in advertising and promotion; $400 in utilities; $2250 for office plotter; $1500 for scanner; $2800 for office furniture; $1000 for professional dues and memberships. The allowed depreciation for office supplies is $200; for office plotter is $275; for scanner is $60; for office furniture is $575; and for professional dues and memberships is $115.
During the year you also earned $28050 in dividends and $1850 in savings interest and paid $1222 in interest to lending institutions.
Determine your net taxable income. The income tax rate for the company is 37%. Calculate the net profit of the company.
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