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A firm's income statement included the following data. The firm's average tax rate was 25%.
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Cost of goods sold
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$ 9,500
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Income taxes paid
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3,500
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Administrative expenses
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4,500
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Interest expense
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2,500
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Depreciation
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2,500
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a. What was the firm's net income?
Net income
b. What must have been the firm's revenues?
Revenues
c. What was EBIT?
EBIT