Prior to the Effect of the Tax Credits, Justin's Regular

question 8

Multiple Choice

Prior to the effect of the tax credits, Justin's regular income tax liability is $200,000.and his tentative minimum tax is $195,000.Justin reports the following credits. Calculate Justin's tax liability after credits.

• A)$190,000
• B)$194,000
• C)$195,000
• D)$200,000

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Definitions:

GPS System

A global navigation satellite system that provides geolocation and time information to a GPS receiver anywhere on or near the Earth.

Australia

A country in the Southern Hemisphere, comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands, known for its unique biodiversity and vibrant culture.

China

A country located in East Asia, known for being the world's most populous nation and for its significant cultural and economic influence.

European Union

A political and economic union of 27 European countries that are located primarily in Europe, aimed at facilitating free trade and common policies.