This year,Johnson Mills has annual revenue of $37,800,cost of goods sold of $23,200,and administrative expenses of $6,300.The firm paid $700 in dividends,$280 in interest,and has a total tax rate of 21 percent.The firm will add $2,810 to retained earnings.What is the depreciation expense?
A) $2,300
B) $3,709
C) $2,640
D) $780
E) $3,577
Correct Answer:
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