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Ross Company, a manufacturer of pharmaceuticals, has pretax ordinary income of $503,000 and has just sold an asset purchased two years ago with a realized

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Ross Company, a manufacturer of pharmaceuticals, has pretax ordinary income of $503,000 and has just sold an asset purchased two years ago with a realized capital gain of $20,000. Using this table calculate the tax liability for the company this year. The tax liability this year is $ (Round to the nearest dollar.)

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