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Question
Suppose a bank earned $12 million in interest on its assets of $157 million, it paid out $8 million in interest on its liabilities (excluding capital) of $172 million, and it paid its workers $3 million in total compensation. The bank's profit equalsa. $12 million.
b. $8 million.
c. $3 million.
d. $1 million.
Answer
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