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The Tax Cuts and Jobs Act (TCJA) lowers the corporate income tax rate to 21% flat tax rate, beginning in 2018 . In 2018, if

The Tax Cuts and Jobs Act (TCJA) lowers the corporate income tax rate to 21% flat tax rate, beginning in 2018 . In 2018, if a firm has $200,000 of taxable income, what is its tax liability? $21,000 $63,000 $84,000 $42,000

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