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Ross Company, a manufacturer of pharmaceuticals, has pretax ordinary income of $486,000 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 $486,000 and has just sold an asset purchased two years ago with a realized capital gain of $31,000. Using this table the tax liability for the company this year, calculate The tax liability this year is (Round to the nearest dollar) Data Table Corporate Tax Rate Schedule . + (15% Range of taxable income $0 10 $50,000 50,000 to 75,000 75,000 to 100.000 100,000 to 335.000 335,000 to 10.000.000 10,000,000 to 15,000,000 15,000,000 to 18,333,333 Over 18,333,333 Base tax SO 7,500 13,750 22.250 113,900 3,400,000 5,150,000 6,416,667 Tax calculation (Marginal rate x amount over base bracket) x amount over $0) * amount over 50,000) x amount over 75,000) x amount over 100,000) x amount over 335,000) x amount over 10,000,000) x amount over 15.000.000) x amount over 18,333,333) . (34% (35% + (38% + 35% Done

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