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Hallick, Incorporated has a fiscal year ending June 30. Taxable income was $6,500,000 for its...

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Accounting

Hallick, Incorporated has a fiscal year ending June 30. Taxable income was $6,500,000 for its year ended June 30, 2018, and it projects similar taxable income for its 2022 fiscal year. Use 2017 tax rate schedule if needed.

Required:

  1. Compute Hallicks regular tax liability for its June 30, 2018, tax year.
  2. Compute Hallick's projected regular tax liability for its June 30, 2022, tax year. image

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