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Rana makes a 40% profit by selling his home, but loses 12% of the profit to taxes. what is the net percentage of profit Rana makes on the sale?

Rana makes a 40% profit by selling his home, but loses 12% of the profit to taxes. what is the net percentage of profit Rana makes on the sale? Correct Answer 35.2%

Net operating profit = Operating income × ( 1 - Tax rate) = 40× ( 1 - 12/100) % = 35.2 %

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