What was their taxable income and total income tax last year

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Reference no: EM13743874

Acme Universal is a micro-cap that had a $3,000,000 drop in taxable income this year. Their drop in taxes was $1,030,000. For each of the following, determine the largest amount that meets the conditions given above.

What was their taxable income last year?

What was their total income tax this year?

Reference no: EM13743874

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