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Income Statement You Have Been Given the Following Information for Nicole's

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Income Statement You have been given the following information for Nicole's Neckties Corp.: net sales = $2,500,000;
Cost of goods sold = $1,300,000;
Addition to retained earnings = $30,000;
Dividends paid to preferred and common stockholders = $300,000;
Interest expense = $50,000.
The firm's tax rate is 40 percent. What is the depreciation expense for Nicole's Neckties Corp.?

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