Last year the sales at Summit Corporation were $402,000 and were all cash sales. The...
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Accounting
Last year the sales at Summit Corporation were $402,000 and were all cash sales. The expenses at Summit were $251,000 and were all cash expenses. The tax rate was 30%. The after-tax net cash inflow at Summit last year was:
Multiple Choice
$151,000
$45,300
$105,700
$402,000
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