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Dr. Evil, the CEO of Virtucon Industries, receives an annual bonus of 12% of income above $200,000 before income taxes and before deducting the bonus.

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Dr. Evil, the CEO of Virtucon Industries, receives an annual bonus of 12% of income above $200,000 before income taxes and before deducting the bonus. Virtucon Industries had income of $1,000,000 (one billion dollars) before bonuses and income taxes were taken out during the 2020 fiscal year. The effective tax-rate for Virtucon Industries is 20%. How much will Dr. Evil's bonus be for 2020? $96,000 $144,000 NONE of the other answers are correct $76,800 $120,000

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