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2)What is the taxable income if gross income is $120000 and expenses are 48000? A. $168000 B. $72000 C. $120000 D. $48000 3) What would

2)What is the taxable income if gross income is $120000 and expenses are 48000?

A. $168000

B. $72000

C. $120000

D. $48000

3) What would the tax be in above problem?

A. $13000

B. $13500

C. $17000

D. $16500

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