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For the year 20X1, Tolly Corporation reported $50,000 pre-tax profit (average annual income tax rate of 40%). What was the after-tax profit? Multiple Choice $20,000

For the year 20X1, Tolly Corporation reported $50,000 pre-tax profit (average annual income tax rate of 40%). What was the after-tax profit? Multiple Choice $20,000 $10,000 O $30,000 O $15,000

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