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What is the present value of Rivera penalty

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Reference no: EM132650748

Problem - Rivera underpaid her income tax by $45,000. The IRS can prove that $40,000 of the underpayment was due to fraud.

Required -

a. Determine Rivera's civil fraud penalty.

b. Rivera pays the penalty five years after committing the fraudulent act. Her after-tax rate of return on available cash is 9%. What is the present value of Rivera's penalty?

Reference no: EM132650748

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