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Refer to the exhibit. What is the result of implementing this configuration?
Tax Rate
The rate at which a person or business is taxed by the government.
Tax Proration
The division or allocation of taxes between parties (such as buyers and sellers) based on their period of ownership or usage.
Annual Tax Bill
The total amount of tax owed by an individual or corporation in a given fiscal year.
Taxable Income
The amount of income that is used to calculate how much tax an individual or a company owes to the government.
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