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Corporation Growth has $79,000 in taxable income, and Corporation Income has $7,900,000 in taxable income. Use the tax rates from Table 2.3. (Do not round

Corporation Growth has $79,000 in taxable income, and Corporation Income has $7,900,000 in taxable income. Use the tax rates from Table 2.3. (Do not round intermediate calculations.)

a. What is the tax bill for each firm?

Firms Tax Bill
Corporation Growth $
Corporation Income $

b.

Suppose both firms have identified a new project that will increase taxable income by $13,000. How much in additional taxes will each firm pay?

Firms Additional taxes
Corporation Growth $
Corporation Income $

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