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James,an Executive,receives a $600,000 Payment Under a Golden Parachute Agreement

Question 20

Multiple Choice

James,an executive,receives a $600,000 payment under a golden parachute agreement.James's base amount from Silver,Inc. ,is $140,000.What is the total tax James must pay,assuming a 39.6% individual tax rate?


A) $0
B) $92,000
C) $210,000
D) $329,600
E) None of these

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