FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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A firm has the following accounts.: Sales = $10,346,000; Cost of goods sold = $6,005,000; Addition to retained earnings =
$225,000; Dividends paid to stockholders = $225,000; Interest expense = $1,500,000. The firm's tax rate is 21%. What is the
firm's annual depreciation expense?
O $2,271,380
$2,469,099
O $4,341,000
$2,069,620
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Transcribed Image Text:A firm has the following accounts.: Sales = $10,346,000; Cost of goods sold = $6,005,000; Addition to retained earnings = $225,000; Dividends paid to stockholders = $225,000; Interest expense = $1,500,000. The firm's tax rate is 21%. What is the firm's annual depreciation expense? O $2,271,380 $2,469,099 O $4,341,000 $2,069,620
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