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Find how much higher is the manager bonus

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Problem 1: The manager of Blue is given a bonus based on net income before taxes. The net income after taxes is $70060 for FIFO and $58300 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager's bonus if FIFO is adopted instead of LIFO?

Option 1: $11760

Option 2: $16800

Option 3: $23520

Option 4: $3360

Reference no: EM132704374

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