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Sharon Inc. is headquartered in State X and owns 100 percent of Carol Corp., Josey Corp., and Janice Corp., which form a single unitary group.

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Sharon Inc. is headquartered in State X and owns 100 percent of Carol Corp., Josey Corp., and Janice Corp., which form a single unitary group. Assume sales operations are within the solicitation bounds of Public Law 86-272. Each of the corporations has operations in the following states: Janice Corp. State Z (nonthrowback) $ 730 18,900 13, 200 19,200 Domicile State Dividend income Business income Sales: State x State Y State Z State A State B Property: State x State Y State Z State A Payroll: State x State Y State Z State A Sharon Inc. Carol Corp. Josey Corp. State X State Y State Z (throwback) (throwback) (nonthrowback) $ 1,580 $ 405 $ 695 69,000 49,500 19,000 81,700 16,400 11,400 50,500 6,300 27,700 36,000 29,700 15,000 55,000 21,500 88,000 36, 250 61,250 12,900 17,600 45,500 3,650 14,700 10,400 27,750 16,900 14,500 Compute the following for State X assuming a tax rate of 15 percent. (Use an equally weighted three- factor apportionment. Round all apportionment factors to 4 decimal places. Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) a. Calculate the State X apportionment factor for Sharon Inc., Carol Corp., Josey Corp., and Janice Corp. State X Apportionment factors Sharon Carol Josey Janice b. Calculate the business income apportioned to State X. State X Business Income c. Calculate the taxable income for State X for each company. State X taxable income Sharon Carol Josey Janice d. Determine the tax liability for State X for the entire group. State X Tax liability

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