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Assume the following tax schedule for Tax Year 2023. Taxable Income Tax Rate $ 0-40,000 5% $ 40,001-80,000 10% $ 80,001-100,000 15% $100,001-120,000 20% $120,001-140,000

Assume the following tax schedule for Tax Year 2023. Taxable Income Tax Rate $ 0-40,000 5% $ 40,001-80,000 10% $ 80,001-100,000 15% $100,001-120,000 20% $120,001-140,000 30% In 2023, Finance-Is-Fun Corp earned $135,000 before taxes. In other words, Taxable Income was $135,000. What is the firm's tax liability? (Please go to two places to the right of the decimal point when recording your final answer. For example, if your final calculation is $78.5623, then record your answer on the answer sheet as $78.56. (dollars and cents). Answer: ____________________

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