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Business, 21.11.2019 01:31 brillamontijo

Acompany wants to set up their headquarters in spain where the corporate tax rates are as follows: 11% of first $40,000 profits, 22% of next $26,000, 39% of next $29,000, and 42% of everything over $95,000. consultants estimate that they will have gross revenues of $350,000, total costs of $100,000, and $10,000 in allowable tax deductions. a. what is taxable income for the first year (10 points) and b. how much should the company expect to pay in taxes? (10 points)

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