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4. Lynn Construction Company had a gross income of $34,000,000 in tax-year 1, $5,000,000 in salaries, $4,000,000 in wages, $1,000,000 in depreciation expenses, a loan
4. Lynn Construction Company had a gross income of $34,000,000 in tax-year 1, $5,000,000 in salaries, $4,000,000 in wages, $1,000,000 in depreciation expenses, a loan principal payment of $200,000, and a loan interest payment of $210,000. A. What is the marginal tax rate for Lynn Construction in tax-year 1? B. What is the average tax rate in tax-year 1? C. Determine the net income of the company in tax-year 1? 4. Lynn Construction Company had a gross income of $34,000,000 in tax-year 1, $5,000,000 in salaries, $4,000,000 in wages, $1,000,000 in depreciation expenses, a loan principal payment of $200,000, and a loan interest payment of $210,000. A. What is the marginal tax rate for Lynn Construction in tax-year 1? B. What is the average tax rate in tax-year 1? C. Determine the net income of the company in tax-year 1
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