Question: need help with question 16 Meric Mining Inc. recently reported $32,000 of sales, $17,000 of operating costs other than depreciation, and $6,500 of depreciation. The

need help with question 16

Meric Mining Inc. recently reported $32,000 of sales, $17,000 of operating costs other than depreciation, and $6,500 of depreciation. The company had no amortization charges, it had outstanding $7,500 of bonds that carry a 6.25% interest rate, and its federal-plus-state income tax rate was 25%. How much was the firm's net income after taxes? Meric uses the same depreciation expense for tax and stockholder reporting purposes

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