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You are given the following information from a firm's income statement for 2016:

Sales = $700,000

Dividends Paid to Stockholders = $78,000

Cost of Goods Sold = $180,000

General & Administrative Expenses = $160,000

Amount added to Retained Earnings = $52,000

Interest Expense = $45,400

Tax Rate = 35 percent.

Calculate the depreciation expense for 2016.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92434016

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