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A company has a return on equity of 18 percent, a net profit margin of 7.5 percent, and total equity of $945,000. What is the net income? Round your answer to two decimal places.

A company has a return on equity of 18 percent, a net profit margin of 7.5 percent, and total equity of $945,000. What is the net income? Round your answer to two decimal places.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 2P
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A company has a return on equity of 18 percent, a net profit margin of 7.5 percent, and total equity of $945,000. What is the net income? Round your answer to two decimal places.
Transcribed Image Text:A company has a return on equity of 18 percent, a net profit margin of 7.5 percent, and total equity of $945,000. What is the net income? Round your answer to two decimal places.
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