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Please solve In the year 2021, a corporation made $19.4 Million in revenue, $2.6 Million of operating expenses, and depreciation expenses of $6.3 Million. The

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In the year 2021, a corporation made $19.4 Million in revenue, $2.6 Million of operating expenses, and depreciation expenses of $6.3 Million. The state income tax rate is 12% and the federal income tax rate is 21%. How much (a) state income tax, and (b) federal income tax will this corporation pay in this tax year? Assume that the state income tax is a tax-deductable expence when filing federal income tax. The approximate state income tax is $ Million (Round to three decimal places.) The approximate federal tax is $ Million. (Round to three decimal places.) The combined effective income tax rate is (Round to the nearest decimal.) The ATCF for the year 2021is $ Million. (Round to three decimal places.)

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