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Marvelous Company had sales of $66,000 during the year. The company's expenses were advertising expense of $8,000, depreciation expense of $5,000, and cost of goods sold of $16,000. In addition, Marvelous sold a plot of land and incurred a $1,000 loss. What was Marvelous' gross profit for the year?A) $37,000B) $36,000C) $38,000D) $50,000
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