You are given the following information for Ted's Dread Co.: sales = $51,000; costs = $39,800.Addition to
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You are given the following information for Ted's Dread Co.: sales = $51,000; costs = $39,800.Addition to retained earnings = $2,300; net income = $3,222; interest expense = $1,580; tax rate = 40 percent.
Calculate the taxable income.
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