Automated production line with installed initial cost

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Reference no: EM131389626

last fiscal year 01-Jan to 31-Dec, Norco, Inc. had a gross revenue of $32,718,166 cost of goods sold and interest expenses of $27,883,785 and total depreciation charge of $2,678,818. Also on October last year, Norco completed a purchase of and placed in service an new automated production line with an installed initial cost of $1,124,336. Compute Norco's taxable income for last year.

Reference no: EM131389626

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