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Mr. and Mrs. Orange and their two children, Clementine and Tangerine, are the four equal...

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Accounting

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Mr. and Mrs. Orange and their two children, Clementine and Tangerine, are the four equal partners in Citrus Partnership. This year, Citrus Partnership generated $160,000 of ordinary income. Compute the tax cost associated with this income if Mr. and Mrs. Orange's marginal tax rate is 35%, Clementine's marginal tax rate is 24%, and Tangerine's marginal tax rate is 32%. O $35,200 $140.800 $50,400 O $65,600

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