1 answer:
Answer:
$6,250,000
Step-by-step explanation:
Let :
2016 income = x
2017 income = x + $500,000
2017 income is 8% more than company's income in 2016
Thus ;
8% of 2016 income = 500000
0.08x = 500,000
x = 6,250,000
Hence, the company's income in 2016 is $6,250,000
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