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Question: During 2016, Seth Britain Lab supplied hospitals with a comprehensive diagnostic kit for $150. At a volume of 85,000 kits, Seth had fixed costs of $1,150,000 and a profit before income taxes of $125,000. Due to an adverse legal decision, Seth's 2017 liability insurance increased by $1,275,000 over 2016. Assuming the volume and other costs are unchanged, what should the 2017 price be if Seth is to make the same $125,000 profit before income taxes? (CPA adapted) rev: 10_18_2016_QC_CS-66336?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92715020

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