Solution-What is total amount of taxes that corporation

What is total amount of taxes that corporation must pay

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Reference no: EM13539833

The Prosperity Corporation has accumulated $200,000 of earnings beyond the reasonable needs of the business. The corporation's regular taxable income is $165,000. Its adjusted taxable income for determining the accumulated earnings tax is $178,000. What is the total amount of taxes that the corporation must pay?

Reference no: EM13539833

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What is total amount of taxes that corporation must pay

Reference no: EM13539833

Reference no: EM13539833

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