assuming a 21 percent marginal tax rate, compute the after-tax cost of the following business expenses: required: $7,600 premium on business property and casualty insurance. $3,200 fine paid for business entertainment. $5,700 premium on key-person life insurance. $70,000 political contribution. $9,800 client meals not provided by a restaurant.

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05-10-2022
Business

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assuming a 21 percent marginal tax rate, compute the after-tax cost of the following business expenses: required: $7,600 premium on business property and casualty insurance. $3,200 fine paid for business entertainment. $5,700 premium on key-person life insurance. $70,000 political contribution. $9,800 client meals not provided by a restaurant.

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