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[5 points] A company has taxable income of $100,000. The federal tax is 20% of that portion that is left after the state tax has

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[5 points] A company has taxable income of $100,000. The federal tax is 20% of that portion that is left after the state tax has been paid. The state tax is 10% of that portion that is left after the federal tax has been paid. Hence the federal and state taxes are 60, 000 100, 000 9.8 3 4.9 100,000 90,000 9.8 l 4.6 80,000 90,000 9.6 l 4.6 (A) (13) (C) 80, 000 80, 000 9.8 f 4.9 80,000 80,000 9.6 l 4.9 (D) (E) (F) None of (A) - (E)

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