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12 May, 15:09

Magic Door Company has a net income before taxes of $50,000. The company's treasurer estimates that 35% of the company's net income will go to federal and state taxes. How much will Magic Door have left?

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  1. 12 May, 19:04
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    Therefore, the Magic Door Company will have 32500$.

    Step-by-step explanation:

    From Exercise we have that the Magic Door Company has a net income before taxes of $50,000. We know that 35% of the company's net income will go to federal and state taxes.

    So, we have the following proportion

    50000 : 100% = x : 35%

    100x=35 · 50000

    100x=1750000

    x=17500$

    Now, we get 50000$ - 17500$=32500$

    Therefore, the Magic Door Company will have 32500$.
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