Frederickson Office Supplies recently reported $12,500 of sales, $7,250 of operating costs other than depreciation,...
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Frederickson Office Supplies recently reported $12,500 of sales, $7,250 of operating costs other than depreciation, and $1,250 of depreciation. The company had no amortization charges and no non-operating income. It had $8,000 of bonds outstanding that carry a 8.0% interest rate, and its federal-plus-state income tax rate was 25%. How much was the firm's taxable income, or earnings before taxes (EBT)? a. $3,400.00 b. $3,570.00 c. $3,935.93 d. $3,360.00 e. $3,748.50
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