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The tax table for corporations is given below: Taxable income Tax on base of bracket Rate on amount above base $0 - 50,000 $0 15%
The tax table for corporations is given below:
Taxable income | Tax on base of bracket | Rate on amount above base |
$0 - 50,000 | $0 | 15% |
$50,000 - 75,000 | $7,500 | 25% |
$75,000 - 100,000 | $13,750 | 34% |
$100,000 - 335,000 | $22,250 | 39% |
$335,000 - 10,000,000 | $113,900 | 34% |
$10,000,000 - 15,000,000 | $3,400,000 | 35% |
$15,000,000 - 18,333,333 | $5,150,000 | 38% |
$18,333,333 and up | $6,416,667 | 35% |
Bolander, Inc. has a taxable income this year of $206,000. What is the firms after-tax income?
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