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During 2017 Miami Inc

Question 102

Multiple Choice

During 2017 Miami Inc. had sales revenue $1328000 gross profit $728000 operating expenses $398000 cash dividends $90000 other expenses and losses $40000. Its corporate tax rate is 30%. What was Miami's income tax expense for the year?


A) $60000
B) $180000
C) $398400
D) $87000

Correct Answer:

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