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please solve the following The Zenith Corporation had the following in 2018. Operating income $4,500,000; Dividends paid $2,000,000; Interest expense $1,750,000; Interest income received from
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The Zenith Corporation had the following in 2018. Operating income $4,500,000; Dividends paid $2,000,000; Interest expense $1,750,000; Interest income received from its huge bank account $3,900; Interest income received from its State of lowa bonds $2,700; Dividend income $5,700; Interest received from its holdings of U.S Treasury Bonds $3,300; Interest income from its holdings of City of Hartford bonds- S2,995 Calculate (a). Zenith's 2018 tax liability, (b). Zenith's Average tax rate, and (c). Zenith's After tax incomeStep by Step Solution
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