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Borat company gives annual bonuses after the end of the

Borat Company gives annual bonuses after the end of the year. Borat computes the bonuses based on the company's net income after deducting both the bonuses and the income taxes. Borat's income before bonuses and income taxes is $565,000 for the current year. The effective income tax rate is 35% and the bonus rate is 12%. Calculate Borat's bonuses and income taxes for the current year.

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Accounting Basics: Borat company gives annual bonuses after the end of the

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