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This past year, CLL Industries had income from operations of $8.2 million and expenses of $1.8 million. Depreciation charges were $400,000, and the firms tax
This past year, CLL Industries had income from operations of $8.2 million and expenses of $1.8 million. Depreciation charges were $400,000, and the firms tax rate was 34%. What were CLLs taxable income and federal taxes owed for operations last year? Choose the closest values. (a) $6.0 million; $1.93 million (b) $6.0 million; $2.04 million (c) $6.4 million; $1.93 million (d) $6.4 million; $2.04 million
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