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    Calculating Corporate Income Tax

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    In each of the following independent situations, determine the tentative minimum tax (assume that the companies are not a small corporation):
    Amti (before the exemption amount):

    Arleen corporation $160,000
    Benitez corporation $ 210,000
    Chestnut corporation $ 350,000

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    Solution Preview

    The corporate tax rates in the U.S. are structured based on total gross income. In this case, we would calculate in this manner -

    $160,000 gross income

    Using the corporate tax table ...

    Solution Summary

    This solution calculates the tax rates for the companies listed with explanations regarding the calculations.