Homework Help: Finance

Posted by Michell on Tuesday, October 12, 2010 at 10:56am.

Company reported $9,000 of sales, $6,000 of operation costs other than depreciation, and $1,500 of depreciation. The company had no amortization charges and no non-operation income. It had issued $4,000 of bonds that carry a 7% interest rate, and its federal-plus-state income tax rate was 40%. What was the company's taxable income?

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