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Simmox Companys income before taxes is $290,000, and its tax rate is 35%. Note that $40,000 is nontaxable interest income from its investment in municipal
Simmox Companys income before taxes is $290,000, and its tax rate is 35%. Note that $40,000 is nontaxable interest income from its investment in municipal bonds and is included in $290,000. There are no other book-tax differences. What are Simmoxs tax expense and taxes payable? What is its net income
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