Assume that Mainline Healthcare, a for-profit corporation, had exactly the same situation as reported in Problem 11.5.
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Assume that Mainline Healthcare, a for-profit corporation, had exactly the same situation as reported in Problem 11.5. However, Mainline must pay taxes at a rate of 40 percent of pretax income. Assuming that the same revenues and expenses reported for financial accounting purposes would be reported for tax purposes, redo Problem 11.5 for Mainline.
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