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Question regarding the federal tax bill

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A company has sales of $425,000; costs of goods sold = $200,000.The company paid interest of $25,000 on a loan and received $20,000in dividends from GE. They paid $55,750 in common stock dividendsand $10,000 in preferred stock dividends. What was their Federal tax bill? Find the taxable income, and show your work.

Reference no: EM131043376

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