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Homework answers / question archive / Use Exhibit 24

Use Exhibit 24

Accounting

Use Exhibit 24.1 to compute Balboa Corporation's State F taxable income for the year.

Addition modifications $29,000
Allocated income (total) 25,000
Allocated income (State F) 3,000
Allocated income (State G) 22,000
Apportionment percentage 40%
Credits 800
Federal taxable income 90,000
Subtraction modifications 15,000
Tax rate 5%

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