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finance 1

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Question:

Last year, Hammond Corporation had sales of $120 million, costs of goods sold of $65 million, and total operating expenses of $38 million. Also, Hammond received $60,000 in dividend income, paid $30,000 in dividends to its stockholders, and sold land for $1.5 million that had been purchased for $1 million several years earlier. What is Hammond's tax payment if their tax rate is 21%

Author: Shalwar Employer



Answer:

$3,681,300


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