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Sarah is a cash-method, calendar-year taxpayer, and she is considering making the following cash payments related to her business. Calculate the after-tax cost of each
Sarah is a cash-method, calendar-year taxpayer, and she is considering making the following cash payments related to her business.
Calculate the after-tax cost of each payment assuming she is subject to a 37 percent marginal tax rate.
Note: Do not round intermediate calculation.
b. $800 to reimburse the cost of meals at restaurants incurred by employees while traveling for the business.
After Tax Cost:
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