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1. At the end of a tax year, a company has the following data: Gross receipts (sales) $300,000 Cost of goods sold $50,000 Tax depreciation
1. At the end of a tax year, a company has the following data: Gross receipts (sales) $300,000 Cost of goods sold $50,000 Tax depreciation $15,000 Book depreciation $8,000 Interest on debt $10,000 What is the company's tax liability (tax) and effective tax rate
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