Question: Calculate the preforms 2018 taxes and the 2019 rate Taxes: in 2018, the Company paid $10M taxes on $40M of pre-tax income. Due to a

Calculate the preforms 2018 taxes and the 2019 rate Taxes: in 2018, the Company paid $10M taxes on $40M of pre-tax income. Due to a change in tax policy, the effective rate in 2019 increased. If the 2019 rate was charged in in 2018, the tax bill would have been 20% higher.

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