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Algebra
Question

The formula for a company's net profit margin M ex...

The formula for a company's net profit margin M expressed as a percent is given by \( M = \frac { 1001 } { R } \) , where I represents net income and \( R \) represents net revenue. If a company had a net profit margin of \( 2.55 \% \) on net revenue of \( \$ 4,525,000 \) , what was its net income? 

The net income is \( \$ \square \) . (Round to the nearest hundred as needed.) 

Answer

Solution
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