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Washington Corporation provides an incentive compensation plan under which its president is to receive a bonus equal to 10 percent of Washington's income in excess

Washington Corporation provides an incentive compensation plan under which its president is to receive a bonus equal to 10 percent of Washington's income in excess of 100,000 before deducting income tax but after deducting bonus. if income before income tax and bonus is 320,000 and the effective tax rate is 40 percent, the amount of bonus should be?

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