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Question
Multiple-Choice Questions for Appendix A
Last year, a firm had sales of $200,000. Its cost of goods sold was $75,000; administrative expenses were $25,000; marketing expenses were $25,000; depreciation expense was $10,000; and interest expense was $15,000. If the tax rate is 30%, what was the firm's NOPAT last year?
a. $19,500
b. $35,000
c. $45,500
d. $52,500
Answer
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