1. You have given the following information for Paige’s Purses Corp:
– Net Sales = $10,750,000
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– Cost of Goods Sold = $4,250,000
– Addition to retained earnings = $1,030,000
– Dividends paid = $2,000,000
– Interest expense = $250,000
– Tax rate is 40%
What is the depreciation expense for Paige’s Purses Corp?
Please show all the solutions, thanks.