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What is the net income before bonus and tax

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Reference no: EM133000031

Problem 1: SESAME-SEED Company has a bonus agreement which provides that the senior managers will receive an annual bonus of 12% of the net income after bonus and tax. The income tax rate is 30%. The senior managers received ?250,000 for the current year as bonus. What is the net income before bonus and tax?

Reference no: EM133000031

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