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Business, 07.04.2020 18:31 Sk8terkaylee

The company's CFO, Fred Mertz, wants to see a 25% increase in net income over the next year. In other words, his target for next year's net income is $2,250,000. Mertz has made the following observations: - Ricardo's operating margin (EBIT/Sales) was 37.5% this past year. Mertz expects that next year this margin will increase to 40%. - Ricardo's interest expense is expected to remain constant. - Ricardo's tax rate is expected to remain at 40%.

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