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How much is the total amount of bonus

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Problem 1: Fender, Inc. distributes annual bonuses to its sales manager and two sales agents. The company reported P2,000,000 income for 2014 before bonuses and income taxes. Income tax of Fender, Inc. is at 35%. How much is the total amount of bonus if bonus is computed at 15% of income after taxes and bonuses? Explain.

Reference no: EM132630665

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