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How much was the interest expense

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Breads 'R Us had sales of $55,000 last year. Their total costs were $20,000, and the depreciation charge was $3,000. They have 1,640 shares outstanding and paid dividend of $3 per share after keeping 70 percent of the net income as retained earnings. If they paid 40 percent in taxes, how much was the interest expense?

Reference no: EM133000805

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