The Oriole Chemical Corporation announced that, for the period ending March 31, 2017, it had earned income after taxes of $2,768,695.75 on revenues of $13,200,000. The company's costs (excluding depreciation and amortization) amounted to 61 percent of sales, and it had interest expenses of $392,168. What is the firm's depreciation and amortization expense if its average tax rate is 34 percent? (Round answer to 2 decimal places e. g. 15.25.)

$560,838.44

Explanation:

Given that,

Earned income after taxes = $2,768,695.75

Revenues = $13,200,000

costs (excluding depreciation and amortization) = 61 percent of sales

Interest expenses = $392,168

Average tax rate = 34 percent

Income after taxes = Income before taxes × (1 - tax rate)

$2,768,695.75 = Income before taxes × (1 - 0.34)

$2,768,695.75 ÷ 0.66 = Income before taxes

$4,194,993.56 = Income before taxes

cost of goods sold:

= 61 percent of sales

= 0.61 × $13,200,000

= $8,052,000

Income before taxes = Sales - Cost of goods sold - Depreciation and amortization expenses - interest

$4,194,993.56 = $13,200,000 - $8,052,000 - Depreciation and amortization expenses - $392,168

$4,194,993.56 = $4,755,832 - Depreciation and amortization expenses

$4,755,832 - $4,194,993.56 = Depreciation and amortization expenses

$560,838.44 = Depreciation and amortization expenses

answer; the above statement/question is ( true);

there's 11 people for the 1st position. then, no matter who gets it, there's only 10 left for the second, and then 9 left for the third. 11 x 10 x 9 = 990.   the answer is there are 990 different ways the positions can be filled by these applicants