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What is the dollar amount of taxes paid

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Reference no: EM132832803

Problem 1: Elgin Battery Manufacturers had sales of $910,000 in 2015 and their cost of goods sold is 564,200. Selling and administrative expenses were 63,700. Depreciation expense was $17,000 and interest expense for the year was $8,000. The firm's tax rate is 25 percent. What is the dollar amount of taxes paid in 2015?

Option 1: $256,449
Option 2: $64,275
Option 3: $284,900
Option 4: $66,275

Reference no: EM132832803

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