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Alright Printing Company employs five individuals: Karl who earns $70,000 this year, Rachal who earns $50,000, and three sales representatives who each earn $40,000. All five employees are covered under the company's profit-sharing plan. The maximum total amount of contributions for which Alright Printing Company may take a deduction for the current year is:

A. $50,000
B. $60,000
C. $100,000
D. the net book value of the company's profits for the tax year

 

Basic Finance, Finance

  • Category:- Basic Finance
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