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A company plans to locate a new manufacturing plant in a state with a 4% corporate tax rate. The company will receive a 50% tax credit for each of the first 3 years after the plant begins operation. How much will the total tax credit be if the company's taxable income in the first year is $300000 and doubles each year after that?

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A company plans to locate a new manufacturing plant in a state with a 4% corporate tax rate. The company will receive a 50% tax credit for each of the first 3 years after the plant begins operation. How much will the total tax credit be if the company's taxable income in the first year is $300000 and doubles each year after that?






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