Bulldozer Mining Inc. recently reported $350,000 of sales, $80,000 of operating costs other than depreciation, and $10,000 of depreciation. The company had $18,500 of outstanding bonds that carry a 6.5% 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.
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Bulldozer Mining Inc. recently reported $350,000 of sales, $80,000 of operating costs other than dep...
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