Meric Mining Inc

question 51

Multiple Choice

Meric Mining Inc.recently reported $15,000 of sales,$7,500 of operating costs other than depreciation,and $1,200 of depreciation.The company had no amortization charges,it had outstanding $6,500 of bonds that carry a 6.25% interest rate,and its federal-plus-state income tax rate was 35%.How much was the firm's net income after taxes? Meric uses the same depreciation expense for tax and stockholder reporting purposes.

• A) $3,284.55
• B) $3,457.42
• C) $3,639.39
• D) $3,830.94
• E) $4,022.48

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Definitions:

Proper

Suitable or appropriate to the circumstances; conforming to the accepted standard or rules.

Desired

A state of wanting or wishing for something with the expectation or hope of achieving it.

Demanding Stakeholders

Stakeholders with high expectations or requirements from a project, company, or initiative.

Urgency Attribute

A characteristic of messages or situations that signals immediate action or attention is required.