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Question
Emery Mining Inc. recently reported $147,500 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 25%. 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.)
a. $38,604.59
b. $36,634.97
c. $35,847.12
d. $47,664.85
e. $45,452.81
Answer
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Related questions
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% of capacity utilized 40%
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u200b
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LOCAL STANDARDS: United States - OH - Default City - N/A - Since we still do not have the Cengage Business School Outcomes, you do not need to include anything for this category.
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a. 3.84 times
b. 3.23 times
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d. 3.60 times
e. 3.40 times
ANSWER: e
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Growth rate 15%
Projected sales $678.5
Req. inventories = $30.2 + 0.25 Projected sales
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u200b
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u200b
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u200b
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u200b
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u200b
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Q:
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u200b
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