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Last year Idaho Steel Corporation had a taxable ordinary income of $2 million and a capital gains income of $500,000. The company also had $50,
Last year Idaho Steel Corporation had a taxable ordinary income of $2 million and a capital gains income of $500,000. The company also had $50, 000 in dividend income and paid its stockholders $150,000 in dividends. Calculate the Idaho Steel Corporation tax bill.
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