Meric Mining Inc. recently reported $17,500 of sales, $7,500 of operating costs other than depreciation, and $1,200 of depreciation. The company had no amortization charges, it had outstanding $6,500 of bonds that carry a 6.25% interest rate, and its federal-plus-state income tax rate was 25%. How much was the firm's net income after taxes

$6,295.31  

Explanation:

Net income=earnings before tax *(1-tax rate)

earnings before tax=sales-operating costs- depreciation-interest expense

sales=$17,500

operating costs=$7,500

depreciation=$1,200

interest expense=bonds value*interest rate=$6,500*6.25%=$406.25

earnings before tax=$17,500-$7,500-$1,200-$406.25=$8,393.75  

tax rate=25%

net income after taxes=$8,393.75*(1-25%)

net income after taxes=$6,295.31  

answer; i believe the answer is 40,600,000;

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.