Regalia fashions has an incentive compensation plan

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Regalia Fashions has an incentive compensation plan through which a division manager receives a bonus equal to 8% of the division's net income. Division income in 2013 before the bonus and income tax was $245,000. The tax rate is 30%. Calculate the amount of the bonus. Im getting $12,992 but the system says its wrong.

Reference no: EM13295679

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