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3.6. Assume that Mainline Homecare, a for-profit corporation, had exactly the same situation as reported in problem 3.5. However, Mainline must pay taxes at a
3.6. Assume that Mainline Homecare, a for-profit corporation, had
exactly the same situation as reported in problem 3.5. However,
Mainline must pay taxes at a rate of 30 percent of pretax
(operating) income. Assuming that the same revenues and expenses
reported for financial accounting purposes would be reported for
tax purposes, redo problem 3.5 for Mainline.
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