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During the year, the Senbet Discount Tire Company had gross sales...

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During the year, the Senbet Discount Tire Company had gross sales...

During the year, the Senbet Discount Tire Company had gross sales of $546,400. The company's cost of goods sold and selling expenses were $182,900 and $106,700, respectively. The company also had debt of $489,000, which carried an interest rate of 8 percent. Depreciation was $63,600. The tax rate was 24 percent

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