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Problem:

ABC company had a taxable income of $588,645 from operations after all operating costs but before interest charges of $58,760, dividends received of $56,349, dividends paid of $10,000, and income taxes.

Required:

Question: What is the firm's income tax liability?

Note: Please provide equation and explain comprehensively and give step by step solution.

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Category:- Basic Finance
Reference No.:- M91148089

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