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Finance question
Madison Metals recently reported $9000 of sales, $6000 of operating costs other than depreciation, and $1500 of depreciation. The company had no amortization charges and non-operating income. It had issued $4000 of bonds that carry a 7% interest rate, and its federal- plus- state income tax rate was 40% what was the firm's taxable or pre-tax, income?
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