During fiscal 2016, kohl’s had sales of $18,686 million, cost of merchandise sold of $11,944 million, and gross profit of $6,741 million. what was net income for 2016? select one:

a. $ 6,741 million
b. $11,944 million
c. $ 5,299 million
d. $18,686 million
e. there is not enough information to calculate the amount.

Annuity payments are assumed to come at the end of each payment period (termed an ordinary annuity). however, an exception occurs when the annuity payments come at the beginning of each period (termed an annuity due). what is the future value of a 13-year annuity of $2,800 per period where payments come at the beginning of each period? the interest rate is 9 percent. use appendix c for an approximate answer, but calculate your final answer using the formula and financial calculator methods. to find the future value of an annuity due when using the appendix tables, add 1 to n and subtract 1 from the tabular value. for example, to find the future value of a $100 payment at the beginning of each period for five periods at 10 percent, go to appendix c for n = 6 and i = 10 percent. look up the value of 7.716 and subtract 1 from it for an answer of 6.716 or $671.60 ($100 × 6.716)