Question: For the base case in this question, as a percentage of sales, COGS =62 percent, SGA =18 percent, R&D=5.4 percent. Depreciation, Interest expense are fixed

For the base case in this question, as a percentage of sales, COGS =62 percent, SGA =18 percent, R&D=5.4 percent. Depreciation, Interest expense are fixed as stated. Tax Rate is 21 percent

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