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Papa Roach Exterminators, Inc., has sales of $554,000, total costs of $245,000, depreciation expense of $40,000, interest expense of $27,000, and an average tax rate of 35 percent. What is the net income for the firm? a. $48,100 b. $224,300 c. $197,300 d. $157,300 e. $184,300

Papa Roach Exterminators, Inc., has sales of $554,000, total costs of $245,000, depreciation expense of $40,000, interest expense of $27,000, and an average tax rate of 35 percent. What is the net income for the firm? a. $48,100 b. $224,300 c. $197,300 d. $157,300 e. $184,300

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Papa Roach Exterminators, Inc., has sales of $554,000, total costs of $245,000, depreciation expense of $40,000, interest expense of $27,000, and an average tax rate of 35 percent. What is the net income for the firm? a. $48,100 b. $224,300 c. $197,300 d. $157,300 e. $184,300
Transcribed Image Text:Papa Roach Exterminators, Inc., has sales of $554,000, total costs of $245,000, depreciation expense of $40,000, interest expense of $27,000, and an average tax rate of 35 percent. What is the net income for the firm? a. $48,100 b. $224,300 c. $197,300 d. $157,300 e. $184,300
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