Problem 06-03 (Algo) [LO 6-1, 6-4] Assuming a 21 percent marginal tax rate, compute the...
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Accounting
Problem 06-03 (Algo) [LO 6-1, 6-4]
Assuming a 21 percent marginal tax rate, compute the after-tax cost of the following business expenses:
Required:
$5,900 premium on business property and casualty insurance.
$1,500 fine paid for business entertainment.
$4,000 premium on key-person life insurance.
$53,000 political contribution.
$8,100 client meals not provided by a restaurant.
Note: Round your final answers to the nearest whole dollar.
After tax cost A-E ?
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