Question: 4.07 Precious Metal Mining has $12 million in sales, its ROE is 12%, and its total assets turnover is 4. Common equity on the firms

4.07

Precious Metal Mining has $12 million in sales, its ROE is 12%, and its total assets turnover is 4. Common equity on the firms balance sheet is 40% of its total assets. What is its net income? Do not round intermediate calculations. Round your answer to the nearest cent.

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