Automated production line with an installed initial cost

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Reference no: EM131341443

Last fiscal year 01-Jan to 31-Dec, Norco, Inc., had a gross revenue of $32,718,166, cost of goods sold and interest expenses of $27,883,785, and total depreciation charges of $2,676,818. Also on October 1 of last year, Norco completed purchase of and placed in service a new automated production line with an installed initial cost of $1,124,336. Compute Norco's taxable income for last year (be careful with the capital expenditure cost in the given data)

Reference no: EM131341443

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