How much is the net income, after taxes

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Complete fire and allied-coverage insurance for one unit of a plant requires an annual payment of $700 based on an investment value of $100,000. If income taxes over a 10-year period average 30 percent of gross earnings, by how much is the net income, after taxes, reduced during this lo-year period owing to the cost of the insurance?

Reference no: EM131061624

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