Corporate Taxes
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Hunt Taxidermy, Inc. is concerned about the taxes paid by the company in 2008. In addition to $33.50 million of taxable income, the firm received $1,850,000 of interest on state-issued bonds and $570,000 of dividends on common stock it owns in Hunt Taxidermy, Inc.(Use Table 2.3) |
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Calculate Hunt Taxidermy’s tax liability, average tax rate, and marginal tax rate. (Enter your answer in dollars not in millions. Round your answer to the nearest dollar amount. Omit the “$” and “%” signs in your response.)
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