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Corporation A has $86111 in taxable income, and Corporation B has $7.9 million in taxable income. Using the tax rates from the table below, what
Corporation A has $86111 in taxable income, and Corporation B has $7.9 million in taxable income. Using the tax rates from the table below, what is the difference between the tax bills of these two firms?
Taxable Income Tax rate
$0-50,000 15%
50,001-75,000 25%
75,001-100,000 34%
100,001-335,000 39%
335,001-10,000,000 34%
10,000,001-15,000,000 35%
15,000,001-18,333,333 38%
18,333,334 + 35%
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