Question: Devons Central Processing Agency suffered a $ 560,000 loss due to a disaster that qualifies as an extraordinary item for financial statement purposes. The tax

Devon’s Central Processing Agency suffered a $ 560,000 loss due to a disaster that qualifies as an extraordinary item for financial statement purposes. The tax benefit of the loss amounts to $ 123,000. If income from continuing operations (net of tax) amounted to $ 1,300,500, what is net income?

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