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Emery Mining Inc. recently reported $130000 of sales $75500 of operating costs other than depreciation and $10200 of depreciation The company had $16500 of outstanding bonds that carry

Emery Mining Inc. recently reported $130,000 of sales, $75,500 of operating costs other than depreciation, and $10,200 of depreciation. The company had $16,500 of outstanding bonds that carry a 7.25% interest rate, and its federal-plus-state income tax rate was 35%. How much was the firm's net income? The firm uses the same depreciation expense for tax and stockholder reporting purposes. (Round your intermediate and final answers to two decimal places.)

 

Apr 08 2020 View more View Less

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