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A company that has a 40% effective tax rate had income of $300 million in each of the last 2 years. In one of those
A company that has a 40% effective tax rate had income of $300 million in each of the last 2 years. In one of those years, the company had deductions of $120 million. In the other year, the company had deductions of only $80 million. The difference in income taxes paid by the company in those 2 years was closest to: 4, A) $40 million B) $32 million C) $16 million D) $12 million
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