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A forecast using a percentage of sales model expects sales to increase by 4.8% annually over the next 4 years. If costs are proportional to sales at 80%, and last year's sales were $2,200, the net income in the fourth year will be: (Do not round intermediate calculations.)

$530.76.

$433.52.

$506.45.

$336.28.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91671516

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