Repeat Problem 59 if the company decides to include a 1 % bonus for the sales manager in the incentive plan.
Problem 59
A small company provides an incentive plan for its top executives. Each executive receives as a bonus a percentage of the portion of the annual profit that remains after the bonuses for the other executives have been deducted (see the table). If the company has an annual profit of $2 million, find the bonus for each executive. Round each bonus to the nearest hundred dollars.

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Officer President Executive vice-president Associate vice-president Assistant vice-president Bonus 3% 2.5% 2% 1.5%