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Question - A forecast using a percentage of sales model expects sales to increase by 5% over each of the next four years. If costs are proportional to sales at 80%, and last year's sales were $1,000, determine the net income in the fourth year?
a. $48.62
b. $145.86
c. $227.60
d. $243.10
What is the corporation's taxable income for this year
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