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The following items were among those that were reported on Cotabato Company's income statement:
Legal and audit fees ? 2,000,000.00
Rent for office space 6,000,000.00
Interest on acceptances payable 1,000,000.00
Loss on abandoned equipment 500,000.00
Insurance 200,000.00
The office space is used equally by the sales and accounting departments.
REQUIRED:
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