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Assess the taxable income for Bank of America Corporation for the fiscal year ending December 31, 2023. Commence by examining the company's total revenue of
Assess the taxable income for Bank of America Corporation for the fiscal year ending December 31, 2023. Commence by examining the company's total revenue of $1,800,000,000 and deduct its cost of goods sold, which amounts to $700,000,000. Subsequently, consider operating expenses totaling $500,000,000, followed by depreciation expenses of $80,000,000 and interest expenses of $25,000,000. With a corporate tax rate of 18%, compute the taxable income for Bank of America Corporation.
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