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Kennedy Wilson Inc. said its second-quarter net income rose 25% to $790,000, or 9 cents a share. The Beverly Hills-based real estate firm said that sales fell 22% to $13.7 million and that operating expenses declined 28% to $11.1 million, mostly because of residential sales in the year-earlier quarter. Property-management and leasing fees fell 16% to $6.6 million.