Memorax company earned before-tax income of 960000 for its

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Memorax Company earned before-tax income of $960,000 for its 2013 fiscal year. During the year the company experienced a $605,000 loss from earthquake damage that it considered to be an extraordinary item. This loss is not included in the $960,000 before-tax income figure. The company's income tax rate is 40%.

Reference no: EM13481738

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