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

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Sharon Incorporated is headquartered in State X and owns 100 percent of Carol Corporation, Josey Corporation, and Janice Corporation, 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: Compute the following for State X assuming a tax rate of 15 percent Compute the following for State X assuming a tax rate of 15 percent Note: 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 Incorporated, Carol Corporation, Josey Corporation, and Janice Corporation Answer is complete but not entirely correct. b. Calculate the business income apportioned to State X. c. Calculate the taxable income for State X for each company. d. Determine the tax liability for State X for the entire group

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