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Warbler Corporation, whose Federal taxable income totals $10 million.

Warbler apportions 60% of it's business income to State C. Warbler generates $3 million of non business income each year, and 20% of that income is allocated to C. Applying the state income tax modifications, Warbler's total business income this year is $9 million.

a) How much of Warbler's business income does State C tax?

b) How much of Warbler's non business income does State C tax?

c) describe your results.

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Accounting Basics, Accounting

Category:- Accounting Basics
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