FIXED COST Definition

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FIXED COST is a cost that does not vary depending on production or sales levels, such as rent, property tax, insurance, or interest expense.

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MUNICIPAL NOTE, also known as a tax-exempt note, is an instrument generally issued with a maturity of one year or less by a municipality or public entity. The interest paid on this instrument is exempt from federal income taxes.

SCHEDULE K-1 see K-1, SCHEDULE.

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