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Problem 1 Part 1 - Corporation On April 1, 2022, a corporation with a December 31 taxation year purchased a three-year investment certificate for $20,000.
Problem 1 Part 1 - Corporation On April 1, 2022, a corporation with a December 31 taxation year purchased a three-year investment certificate for $20,000. The certificate pays interest only at the end of the three-year term but the interest is compounded annually at the rate of 9%. Currently, the corporations marginal tax rate is 28%. However, in 2023, the marginal tax rate will decrease to 24%. Part 2 Individual An individual makes the identical investment on April
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