During the year, Belyk Paving Co. had sales of $2,365,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,315,000, $595,000, and $438,000, respectively. In addition, the company had an interest expense of $263,000 and a tax rate of 21 percent. (Ignore any tax loss or carryforward provision and assume interest expense is fully deductible.) a. What is the company's net income? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What is its operating cash flow? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Answers
a. The company's net income is -$194,340.
b. The company's operating cash flow is $243,660.
a. To calculate the company's net income, we need to consider sales, cost of goods sold, administrative and selling expenses, depreciation expense, interest expense, and the tax rate.
Net Income = (Sales - Cost of Goods Sold - Administrative and Selling Expenses - Depreciation Expense - Interest Expense) * (1 - Tax Rate)
Net Income = ($2,365,000 - $1,315,000 - $595,000 - $438,000 - $263,000) * (1 - 0.21)
Net Income = ($2,365,000 - $2,611,000) * 0.79
Net Income = (-$246,000) * 0.79
Net Income = -$194,340
The company's net income is -$194,340.
b. To calculate the operating cash flow, we need to add back the depreciation expense to the net income.
Operating Cash Flow = Net Income + Depreciation Expense
Operating Cash Flow = -$194,340 + $438,000
Operating Cash Flow = $243,660
The company's operating cash flow is $243,660.
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Related Questions
Present an overview of the digital marketing landscape and compare online and offline marketing concepts.
Answers
Answer:
I'm not sure sorry....
Explanation:
☹️
Digital marketing is the umbrella term for all advertising delivered through electronic devices. When people hear digital marketing, it’s true that most identify it with channels such as email, social media, website, and search engines; basically, anything connected to the Internet via your smartphone, tablet, laptop, or PC. However, digital marketing can occur both online and offline.
If cash received from Mr. O.I.Felix is credited to Messrs Y.K. Grace and co, which kind of accounting error has occurred?
Answers
Answer:
Error by commission
Explanation:
The two accounts in the question are receivables so that they are of the same class. Thus, crediting Messrs Y.K. Grace and co's account instead of Mr. O.I. Felix is an error by commission.
Error by commission is an error that do not require a suspense account to correct it because it does not affect the trial balance. To correct this error, debit Messrs Y.K. Grace and co's account by the same amount, then credit Mr. O.I. Felix's account by the said amount.
Genera 5
3
Select the correct answer.
Which relationship is possible when two tables share the same primary key?
O A one-to-one
ОВ.
one-to-many
OC. many-to-one
OD. many-to-many
Reset
Next
Answers
Question:
Which relationship is possible when two tables share the same primary key?
Explanation:
One-to-one relationship.
what phrases can lawn care companies licensed to apply pesticides lawfully make according to the michigan department of agriculture and rural development
Answers
Applicators are certified by the MD and fully covered by liability insurance is the phrases can lawn care companies licensed to apply pesticides lawfully make according to the michigan department of agriculture and rural development.
What is liability insurance?Liability insurance helps protect your finances if you are held responsible for someone else's injuries or property damage. Liability coverage is typically included in property and auto insurance packages, including homeowners and auto insurance.
Liability insurance will pay for any injuries to third parties as well as any physical damage you may have caused to another person's property. One type of damage that may be considered is hospital and medical costs.
Thus, Applicators are certified by the MD.
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Reaching a Financial Goal You need to accumulate $10,000. To do so, you plan to make deposits of $1,000 per year - with the first papment beiny maife ayes frum fodw. intit a tiril woonef $10,000goal Do not round intermediate calculations. Round your answer up to the nearest whole number. year(s) How large will the last deposit be? Do not round intermediste calculations. Round your ansaer to the nearest cent. 5
Answers
The last deposit would be $2,000, which is the amount needed to reach the financial goal of $10,000.: Final deposit = (FV - Sum of previous deposits) / (1 + r) ^ n .
In order to accumulate $10,000 through yearly payments of $1,000, you will need to find out how many years it would take to reach the goal. Since you will be making deposits of $1,000 per year, you will need to find out how much each of these payments would have to be to reach the goal. The formula used is shown below: PV = FV / (1 + r) ^ n where PV = present value of future cashflows FV = future value of cash flows r = interest rate n = number of periods (years)Firstly, we will find out how many years it would take to accumulate $10,000 with $1,000 payments per year: PV = 0FV = 10,000r = 0 (since there is no interest rate given)
By rearranging the formula, we can solve for n: n = ln(FV / PV) / ln(1 + r)n = ln(10,000 / 0) / ln(1 + 0)n = ln(10,000) / ln(1)n = 9.21 ≈ 9Therefore, it will take 9 years to accumulate $10,000 with $1,000 payments per year. Next, we will determine how large the last deposit will be. Since you will have made 8 deposits of $1,000, the final deposit will be: Final deposit = (FV - Sum of previous deposits) / (1 + r) ^ n Final deposit = (10,000 - (8 * 1,000)) / (1 + 0) ^ 9Final deposit = 2,000 / 1Final deposit = $2,000Therefore, the last deposit would be $2,000, which is the amount needed to reach the financial goal of $10,000. Answer: The last deposit will be $2,000.
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an employee can be dismissed if their job surplus to requirements' outline why this state ment is false
Answers
Calculate to the nearest 0.01% your annual percentage return (on a simple interest basis) if you had bought Apple stock in February and sold in June.
Answers
ANSWER: The nearest 0.01%, the annual percentage return (on a simple interest basis) is -0.61%.
To calculate the annual percentage return on a simple interest basis if you bought Apple stock in February and sold it in June, the following information is required; the buying price, selling price, and the number of days between the buying date and selling date.
The formula to calculate simple interest is as follows; Simple Interest = (P × r × t) / 100 Where; P = Principal (Initial Investment), r = Rate of interest, t = Time period. In this case, the buying price is the principal amount, the rate of interest is not applicable, and the time period is the number of days between February and June. To find the annual percentage return, we first find the daily rate of return and then multiply it by the number of days in a year.
Therefore, annual percentage return (on a simple interest basis) is given by; Annual Percentage Return = (Buying Price - Selling Price) / Buying Price x (365 / Number of Days). Let’s say that you bought 100 shares of Apple stock at $120 each on 1st February, and you sold them for $150 each on 30th June. The number of days between 1st February and 30th June is 149 days. Buying price = $120 per share, Selling price = $150 per share, Number of days = 149 days. Substituting the above values into the formula; Annual Percentage Return = ($120 - $150) / $120 x (365 / 149) = -0.25 x 2.45 = -0.6125. Multiplying by 100 to convert to a percentage, we get; Annual Percentage Return ≈ -0.61%. Therefore, to the nearest 0.01%, the annual percentage return (on a simple interest basis) is -0.61%.
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Which field data type enables users to choose from a list of options while entering data? (1 point)
A. Validation text
B. Input mask
C. Parameter
D. Lookup field
Answers
The field data type that enables users to choose from a list of options while entering data is the Lookup field. This field type allows you to create a list of predefined values that users can select from when inputting data. The lookup field is commonly used in databases to ensure data consistency and accuracy.
When creating a lookup field, you can specify the source table or query, and the column containing the values you want to use in the list. Users can then select one of these values from a drop-down menu when entering data into the field.
Which field data type enables users to choose from a list of options while entering data? The correct answer is D. Lookup field. A lookup field allows users to choose from a predefined list of options, making data entry more efficient and reducing the chance of errors. This field type can be useful in various scenarios, such as selecting from a list of product categories or choosing an employee from a list of staff members. Other options like validation text, input mask, and parameter serve different purposes in data entry and do not provide a list of options to choose from.
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Complete each statement by choosing the correct answer from the drop-down menu.
is the ability to stay positive and focused on finding a solution that
satisfies the customer.
The
is to find out what is wrong and what is needed to restore positive
relations with customers.
Customer service must emphasize the importance of
a customer complaint.
DONE
Answers
Answer:
1. Customer service mindset.
2. Goal of customer service.
Explanation:
Customer relationship management can be defined as a strategic process which typically involves combining strategies, techniques, practices and technology so as to effectively and efficiently manage their customer data in order to improve and enhance customer satisfaction. Thus, this set of employees are saddled with the responsibility of ensuring the customer are satisfied and happy with their service at all times.
This ultimately implies that, customer relationship management is focused on developing an ongoing connection between a business firm (organization) and all of its customers, as well as potential customers.
The fundamentals of customer relationship is mainly focused on improving sales support, creating efficient and effective marketing communications, technical assistance and customer service, so as to bring great level of satisfaction to the customers.
Customer service refers to the overall collection of interactions existing between a company and the customers who have purchased its goods and taken its services in the past or potential customers who may do that in the future.
1. Customer service mindset is the ability of a customer care representative to remain positive and focused on proffering a solution to customer-related problems, so as to make a customer feel happy and satisfied based on their interactions with the company.
2. The goal of customer service is to ensure customer care representatives find out what is wrong with a particular customer and what action is needed to restore positive relations with the customer. A good customer service must emphasize the importance of a customer complaint.
In conclusion, the degree of satisfaction received by customers throughout their lifecycle is largely dependent on customer relationship management.
Answer:
The person below me got it right, but the third answer is "responding promptly to"
Explanation: I just did it lol
why is there a need for us to maintain at least an average credit score
Answers
Answer:
Because when you are moved out and on your own most places like Apartments, motels, and certain jobs might require you to have good credit scores. If you have poor credit scores those places may not accept you and it would be really difficult to find any places to live or jobs to get without decent credit scores.
Explanation:
(I hope this answers your question. if there are options please tell me the options!).
:)
Imagine you are the dining room manager of a restaurant. You are responsible for
creating a set of sanitation rules to be followed by the staff.
The sanitation rules should cover the following aspects:
Service sanitation rules
Personal hygiene and attire rules
Side work rules
Answers
Everywhere Sports is a retail store supplying sporting equipment to community sports clubs. Information about the store’s operations is as follows:
■ October sales amounted to $400 000.
■ Sales are budgeted at $440 000 for November and $400 000 for December.
■ Receipts are expected to be 60 per cent in the month of sale and 38 per cent in the month following the sale. Two per cent of sales receipts are expected to be uncollectable.
■ Cost of sale is 60% of the sale price. All goods are purchased in the month of sale while payment is made in the month following the purchase.
■ Other monthly expenses paid in cash amount to $45 200.
■ Annual depreciation expense is $32 000.
Answers
By understanding these aspects of Everywhere Sports' operations, the company can assess its sales, cash flow, and profitability. These details are important for financial planning, budgeting, and decision-making processes to ensure the store's financial stability and success.
Based on the given information about Everywhere Sports' operations, we can explain the following:
Sales and Receipts:
In October, the sales amounted to $400,000.
For November, the budgeted sales are $440,000, and for December, the budgeted sales are $400,000.
Receipts are expected to be 60% in the month of sale, which means that 60% of the sales revenue is expected to be received in the same month the sales occur.
Additionally, 38% of the sales revenue is expected to be received in the month following the sale.
It is also mentioned that 2% of the sales receipts are expected to be uncollectible.
Cost of Sale:
The cost of sale is stated to be 60% of the sale price. This means that 60% of the sales revenue is attributed to the cost of acquiring the goods sold.
According to the information provided, all goods are purchased in the month of sale while payment is made in the month following the purchase.
Other Monthly Expenses:
There are other monthly expenses paid in cash, which amount to $45,200. These expenses are likely to include various operating costs such as rent, utilities, salaries, and other expenses necessary for the store's operations.
Annual Depreciation Expense:
Everywhere Sports incurs an annual depreciation expense of $32,000. Depreciation represents the allocation of the cost of the store's long-term assets over their useful lives. This expense reflects the wear and tear or obsolescence of the store's assets, such as equipment, fixtures, or buildings, over time.
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Who won the 2020 super bowl?
Answers
Answer: tom brady
Explanation:
just watch the super bowl
private goods are both a. excludable and nonrival in consumption. b. nonexcludable and rival in consumption. c. excludable and rival in consumption.
Answers
Private goods generally are both remain excludable and rival during consumption by consumer. Option C is correct.
What are private goods?A private good is nothing but items that must be purchased in order to be used, and specifically used by one customer and inhibits use by another.
To put it another way, a good is deemed to be a private good if there is rivalry among people to obtain it and if using it prohibits someone else from using it.
Public goods, on the other hand, are accessible to everyone regardless of financial levels.
Therefore such private goods are excludable and rival in consumption in nature by default.
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zoom in and examine the locations of faults relative to cities housing, businesses, freeways, and development in general. how would you describe the level of seismic hazard in the bay area?
Answers
The Bay Area is located in the seismically active region of California and is prone to earthquakes and other seismic activity.
Understanding the locations of faults relative to cities, housing, businesses, freeways, and development is key to assessing the potential level of seismic hazard in the region.
To provide an accurate assessment of seismic hazard, it is necessary to zoom in and examine the exact locations of the faults and how they are situated relative to the aforementioned structures.
By doing this, one can gain a better understanding of the seismic hazard present in the Bay Area and take the necessary precautions to protect against potential seismic activity.
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the franchising strategy whereby an individual or firm is granted the legal right to own more than one unit of a franchised business is known as
Answers
The franchising strategy you are referring to is commonly known as multi-unit franchising.
This strategy involves granting the legal right to own and operate multiple units of a franchised business to an individual or firm. This approach offers several benefits for both the franchisor and the franchisee, including economies of scale, increased brand recognition, and enhanced operational efficiencies.
Multi-unit franchising requires a significant investment of time and resources, as well as a strong understanding of the franchisor's business model and brand. However, for those who are able to successfully implement this strategy, the rewards can be substantial, including the potential for significant financial returns and long-term business growth.
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The idea that each person has intrinsic biases that impact their decisions is a component of which school of thought?.
Answers
The legal realist school of thought suggests that each person has intrinsic biases that impact their decisions, a philosophy that also impacts jurisprudence.
Legal realismIt corresponds to an approach to naturalistic law, in which all law is derived from public policies and social interests, not being restricted only to the set of legal rules and norms.
Therefore, the realist school of thought is synthesized by legal philosophies based on the power of members of society to generate lasting results for the welfare of society.
The correct answer is:
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Unethical behavior should be reported to the proper authority, but care must be taken to ______.
a.
Report your perceptions
b.
Explain what you think was happening
c.
Report only what happened
d.
Explain how you were able to see it
Please select the best answer from the choices provided
A
B
C
D
Answers
Answer:
A Report your perceptions
Explanation:
Answer: A
Explanation:
If a firm's marginal revenue is below its marginal cost, an increase in production will usually: a. increase profits. b. leave profits unchanged. c. decrease profits. d. increase marginal revenue.
Answers
Answer:
D. increase marginal revenue
Explanation:
If marginal revenue is less than marginal cost then they are producing too much product and need to decrease production until marginal cost and marginal revenue are equal.
If when the price of Product E decreases by 9%, this causes its quantity demanded to increase by 14% and the quantity demanded for Product F to increase by 12%, what is the cross-price elasticity of demand? What is the relationship between these goods?
Answers
The cross-price elasticity of demand is -1.33.
To find the cross-price elasticity of demand, we need to divide the percentage change in quantity demanded of Product F by the percentage change in price of Product E. So, we have:
Cross-price elasticity of demand = (12% / -9%) = -1.33
The negative sign indicates that Product F is a substitute for Product E. This means that when the price of Product E decreases, consumers switch from buying Product F to buying more of Product E. The cross-price elasticity of demand is a measure of how sensitive the quantity demanded of one good is to a change in the price of another good.
In this case, the cross-price elasticity is relatively high, indicating a strong substitution effect between the two goods. As a result, the demand for Product F is closely linked to the price of Product E.
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golden company had the following accounts and balances at the end of the year. what are total assets at the end of the year?
Answers
The golden company had the following accounts and balances at the end of the year. Accounts Payable $18,000 are total assets at the end of the year.
The assets is a set of collection like stock, gold etc, which has the chance to increase the price of the current market-price.
The accounts payable is the amount that transact after the selling of the gold products. It can include the depositing funds, and card transaction. The importance of asset is basically give strong impact on the IPO time, more investor can invest in the business if they have more assets.
The more assets reflects the good image of the business or company and show it is financially well and earn profitable by the selling more goods or services.
The Accounts Payable $18,000 are total assets at the end of the year.
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When quantity demanded increases in response to a change in price implies:
a. there is a movement from one point to another along the demand curve.
b. the demand curve shifts to the right.
c. the demand curve shifts to the left.
d. the demand curve doesn't shift.
Answers
Quantity demanded increases in response to a change in price implies a. there is a movement from one point to another along the demand curve.
When is there a movement along the demand curve ?When there is a movement from one point to another along the demand curve, it implies that the quantity demanded has increased in response to a change in price.
This means that as the price of a good decreases, the quantity demanded of the good increases. In this case, the demand curve doesn't shift, but there is a change in quantity demanded along the curve.
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When treasury stock is purchased, what is the effect on total stockholders' equity? O cannot tell from the given information O Decrease O No effect. O increase.
Answers
The effect of purchasing treasury stock on total stockholders' equity is "No effect" (b).
When a company purchases its own shares as treasury stock, it does not directly impact the total stockholders' equity. Treasury stock is treated as a contra equity account, meaning it is deducted from the total stockholders' equity section on the balance sheet.
The purchase of treasury stock reduces the company's cash or other assets and decreases the number of outstanding shares. However, since treasury stock is recorded as a deduction from stockholders' equity, the overall effect on total stockholders' equity is neutral.
While treasury stock does not directly impact stockholders' equity, it can have an indirect effect. For instance, if the company decides to reissue the treasury stock in the future, it may result in an increase in stockholders' equity. Additionally, the purchase of treasury stock can influence financial ratios, such as earnings per share (EPS) and return on equity (ROE), by reducing the number of outstanding shares.
When treasury stock is purchased, it does not have a direct effect on total stockholders' equity. Treasury stock is recorded as a contra equity account, deducted from the stockholders' equity section on the balance sheet. However, the purchase of treasury stock can indirectly impact stockholders' equity through potential reissuance in the future and can affect financial ratios by reducing the number of outstanding shares.
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fill in the blank. Holt Computer Services received $200 from a customer that it had billed earlier in the month. Illustrate how to record the transaction to the T-accounts by completing the following sentences.
Accounts receivable would be ________(debited/credited) on the _____________(left/right) side of the T-account, and Cash would be ___________(debited/credited) on the __________(left/right) side of the T-account.
Answers
Accounts receivable would be credited on the right side of the T-account, and Cash would be debited on the left side of the T-account.
Cash would be deducted from the T-left account's side, while Accounts Receivable would be credited to the right side. This is because when a company receives payment from a customer, the company's accounts receivable account is decreased (credited) and the company's cash account is increased (debited).
The T-account is a visual representation of a company's accounts, with the left side representing debits and the right side representing credits. Therefore, the transaction would be recorded as a credit to accounts receivable on the right side of the T-account and a debit to cash on the left side of the T-account.
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What is Bloom’s Taxonomy?
( no c0py from g00+gle)
Answers
Answer:
a set of three hierarchical models used to classify learning objectives into levels of complexity and specificity
Answer:
Bloom's Taxonomy is a Hierarchal Pyramid used to classify the objectives when learning something into: creating, evaluating, analyzing, applying, understanding, and remembering.
Explanation:
During a merger, when company buys another, who should be the beneficiaries of the money paid for the acquired company?
Answers
Answer:
Concessions are usually made during merger negotiations, Merger securities are non-cash assets paid to the shareholders of a corporation that is being acquired by or merged with another company.nation:
Which of the following accounts would be listed above Property and equipment (net of accumulated depreciation) on a classified balance sheet? (Check all that apply.)
cash
net income
dividends
supplies
supplies expense
accounts receivable
Answers
On a classified balance sheet, the accounts that would be listed above Property and equipment (net of accumulated depreciation) include Cash, Net income, Supplies, Accounts Receivable. So, correct options are A,B,D and F.
Cash: Cash is a current asset and is typically listed at the top of the balance sheet. It represents the amount of money and cash equivalents held by the company.
Net Income: Net income is not directly listed on the balance sheet. It is the result of subtracting expenses from revenues and represents the company's profit or loss during a specific period. However, net income affects retained earnings, which is a component of equity listed on the balance sheet.
Supplies: Supplies are classified as current assets and represent materials or goods that a company uses in its operations. They are typically listed below cash and accounts receivable.
Accounts Receivable: Accounts receivable is a current asset and represents the amount of money owed to the company by its customers for goods or services provided on credit.
Dividends and Supplies Expense are not typically listed above Property and equipment on the balance sheet. Dividends are distributions of profits to shareholders and are reported in the statement of changes in equity, while Supplies Expense is an income statement account that reflects the cost of supplies consumed during a specific period.
Therefore, the accounts that would be listed above Property and equipment (net of accumulated depreciation) on a classified balance sheet include cash and accounts receivable, while net income and supplies would be listed elsewhere on the balance sheet, and dividends and supplies expense would be reported in other financial statements.
So, correct options are A,B,D and F.
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Drag each tile to the correct box.
Sequence the correct steps that an accountant needs to follow for recording transactions.
record the transaction as an entry in the
journal
obtain the source document and verify its authenticity
prepare the trial balance
make adjustment entries
post the entry into a ledger
Answers
The correct steps that an accountant needs to follow for recording transactions: obtain the source document and verify its authenticity, record the transaction as an entry in the journal, post the entry into a ledger, prepare the trial balance, and make adjustment entries.
What is accounting procedure?Accounting procedures are standardized processes that are used within the accounting department to perform a function.
An accounting procedure is intended to perform a function efficiently while incorporating adequate controls to reduce the risk of loss. A procedure can also be created as a training tool for employees, who can read the document to learn about a new job.
The accountant must first obtain the source document and verify its authenticity, and then post into journal and ledger. Then the trial balance is prepared and the accounts are closed with the necessary adjustment entries.
Therefore, the correct steps that an accountant needs to follow for recording transactions is given above.
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What types of planning can be done to improve a nation’s economy?
A nation can undergo ____ planning or ___ planning in order to improve its economy.
Answers
Answer:
A nation can undergo long-term planning or constructive planning in order to improve its economy. Long-term planning involves setting goals and implementing policies that will have an impact over a period of several years. This type of planning may involve investments in education, infrastructure, and research and development, among other areas. Constructive planning involves implementing policies that encourage economic growth and development, such as reducing barriers to trade, promoting entrepreneurship and innovation, and investing in key industries. These types of planning can help a nation to create jobs, increase productivity, and improve living standards for its citizens. THANK YOU5) a macrohedge is a a) hedge of a particular asset or liability. b) hedge of an entire balance sheet. c) hedge using options. d) hedge without basis risk. e) hedge using futures on macroeconomic variables.
Answers
Out of the choices provided above, it can be concluded to state that a macrohedge is a hedge of an entire balance sheet. Therefore, the option B holds true.
A balance sheet can be referred to or considered as a statement, which used for the purpose of representation of the financial positions of an accounting firm as on any given date, as such. The balance sheet can also be created out of a hedge fund or a number of funds, as such. Moreover, a balance sheet also shows the profits and/or losses made by a company.
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