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Westwood specialties had in increase in taxable income of $5,000,000 this year. Their increase in...

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Question

Accounting

Westwood specialties had in increase in taxable income of $5,000,000 this year. Their increase in taxes was exactly $1,720,000.

A.) What was their taxable income last year?

B.) What was their total income tax this year?

The answer are:

A.) $7,325,000.00

B.) $4,210,000.00

I cannot figure out how to solve this problem, please give a detailed explanation. Thanks in advance!

Answer & Explanation Solved by verified expert
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