Answers
Option (d) is correct
Net income can be calculated by the following equation:
Net income = (Revenues - Expenses - Depreciation - Interest) * ( 1 - tax rate)
Putting the values in the above equation, we get,
Net income = ($1200000 - $950000 - $100000 - $25000) * ( 1 - 30%)
Net income = $125000 * 70%
Net income = $87500
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