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How much sales revenue must the company generate

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Question - The company's CEO, Joe Lawrence, was unhappy with the firm's performance. This year, he would like to see net income doubled to $240,000. Depreciation, interest expense, and the tax rate will all remain constant, and the cost of goods sold will also remain at 60 percent of sales. How much sales revenue must the company generate to achieve the CEO's net income target?

Reference no: EM132542309

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