Cathy is the president and sole shareholder of Boxer, Incorporated, a regular corporation. The corporation...
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Accounting
Cathy is the president and sole shareholder of Boxer, Incorporated, a regular corporation. The corporation reported taxable income of $435,000 after deducting Cathy's $800,000 salary. If the IRS disallowed $550,000 of the salary as unreasonable compensation, the corporation's regular income tax will change by a:
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