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Our company is a price taker and has the following information available for the current year:
budgeted production, 220,000 units;
desired operating income as a percentage of total assets, 16%;
current market price of our product, $50 per unit; and
total assets, $12,000,000.
What is our companys desired profit for the year?
Group of answer choices
$1,760,000
$1,920,000
$9,080,000
$11,000,000
Answer & Explanation
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