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Discuss a quarterly tax payment

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New Wave Co. sold 17,000 annual subscriptions of Game Life for $42 during December 2014. These new subscribers will receive monthly issues, beginning in January 2015. In addition, the business had taxable income of $448,000 during the first calendar quarter of 2015. The federal tax rate is 38%. A quarterly tax payment will be made on April 7, 2015.

Reference no: EM131714744

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