Donald Martin operates a kiosk in downtown Chicago, at which he sells one style of baseball hat.
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Question:
Donald Martin operates a kiosk in downtown Chicago, at which he sells one style of baseball hat. He buys the hats from a supplier for $18 and sells them for $24. Donalds current breakeven point is 16,500 hats per year. Assume that Donalds fixed costs, variable costs, and sales price were the same last year, when he made $31,500 in net income.
How many hats did Donald sell last year, assuming a 30% income tax rate?
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