Multiple Choice
If Jefferson Company paid a bonus equal to 8% of net income after bonuses and the total bonus distributed was $420,000,how much was net income for the year?
A) $5,250,000
B) $5,670,000
C) $6,250,000
D) $4,320,000
E) $4,875,000
Correct Answer:
Verified
Correct Answer:
Verified
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