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Farr Products Corp. provides an incentive compensation plan under which its president receives a bonus equal to 10% of the corporation's income after income tax
Farr Products Corp. provides an incentive compensation plan under which its president receives a bonus equal to 10% of the corporation's income after income tax and the bonus. If income before tax and bonus is $2,000,000 and the effective tax rate is 35%, the amount of the bonus would be
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