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In 2020, a public corporation earned $300,000 of manufacturing profits (M&P) (determined using the formula) and $50,000 of other income. What would be the federal

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In 2020, a public corporation earned $300,000 of manufacturing profits (M&P) (determined using the formula) and $50,000 of other income. What would be the federal tax applicable to these profits? Multiple Choice $13,500 $31,500 $46,000 $52.500

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