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Moto Inc. Pays state income tax at 6% rate and federal income tax at a 34% rate. Moto recently engaged in a transaction in county
Moto Inc. Pays state income tax at 6% rate and federal income tax at a 34% rate. Moto recently engaged in a transaction in county N, which levied a $97,300 tax on the transaction. This year, Moto generated $2.738 million net income before consideration of any tax. Compute Moto's total tax burden assuming that the tax paid to County N is NOT deductible for either state and federal tax purposes
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