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Your firm recently reported $4,000,000 in sales. Operating costs are 35% of sales, and depreciation is 10% of sales. The firm has $1,200,000 in debt
Your firm recently reported $4,000,000 in sales. Operating costs are 35% of sales, and depreciation is 10% of sales. The firm has $1,200,000 in debt outstanding at a 9% rate. The firm is in the 27% tax bracket. What is the firms net income? (Please submit your answer using correct labeling, punctuation, etc. For example, for dollar answers, you should enter $5,234,000 this way.)
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