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QUESTION
A division of Hanes has the following data at the end of a year. Total revenue is $48 million. Depreciation is $8.2 million.
A division of Hanes has the following data at the end of a year.Total revenue is $48 million. Depreciation is $8.2 million. Operating expenses is $28 million For an effective federal tax rate of 35% and state tax rate of 6.5%, determine(a) CFAT, (b) percentage of total revenue expended on taxes, and (c) net income for the year.
