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Corporation AB's marginal tax rate is 15 percent, and Corporation YZ's marginal tax rate is 21 percent. Required: a. If both corporations are entitled to
Corporation AB's marginal tax rate is 15 percent, and Corporation YZ's marginal tax rate is 21 percent. Required: a. If both corporations are entitled to an additional $7 , 000 deduction, how much tax savings will the deduction generate for each corporation? b. If both corporations are entitled to a $7 , 000 tax credit, how much tax savings will the credit generate for each corporation? (Assu that each corporation's precredit tax exceeds $7 , 000 .) Complete this question by entering your answers in the tabs below. If both corporations are entitled to an additional $7 , 000 deduction, how much tax savings will the deduction generate for each corporation
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