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Business, 06.05.2021 16:20 adantrujillo1234

Mrs. Ford, who has a 37% marginal tax rate, is the sole shareholder and CEO of Fast Inc. She also holds a $1 million interest-bearing note issued by Fast. The corporation's current-year financial records show the following: Sales revenue $ 1,879,000 Mrs. Ford's salary (160,000 ) Other operating expenses (414,000 ) Interest paid on Mrs. Ford's note (60,000 ) Dividend distributed to Mrs. Ford's (100,000 ) Compute Fast's taxable income. Multiple Choice $1,145,000 $1,245,000 $1,305,000 $1,465,000

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Mrs. Ford, who has a 37% marginal tax rate, is the sole shareholder and CEO of Fast Inc. She also ho...
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