Determine how much income tax did the company pay

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Reference no: EM13239321

A company's first year's operations can be summarized as follows:
Revenues: $110,000
Expenses (except CCA): $65,000
Its capital asset purchases in the first year totalled $100,000. With a CCA rate of 20% and a tax rate of 55%, how much income tax did the company pay?

Reference no: EM13239321

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