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Prior to the Effect of Tax Credits, Eunice's Regular Income

Question 82

Multiple Choice

Prior to the effect of tax credits, Eunice's regular income tax liability is $325,000 and her tentative minimum tax is $312,000.Eunice has general business credits available of $20,000.Calculate Eunice's tax liability after tax credits.


A) $0
B) $305,000
C) $312,000
D) $325,000

Correct Answer:

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