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1. Is spending on tax planning, e.g., paying a tax accountant or lawyer for tax planning advice, a tax-disfavored activity? Please explain your answer. Use

1. Is spending on tax planning, e.g., paying a tax accountant or lawyer for tax planning advice, a tax-disfavored activity? Please explain your answer. Use a numerical example if that helps.

2. Assume you are a corporate taxpayer. If you expected your marginal tax rate to increase in the next period, what tax planning might you undertake in the current period?

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