A company has a net profit of $500,000 in the current year. The corporate tax rate is
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A company has a net profit of $500,000 in the current year. The corporate tax rate is 21% on the first $10,000 of taxable income, 24% on the next $50,000, 26% on the next $100,000, and 28% on the remaining amount above $160,000. Calculate the corporate tax liability for the company.
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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