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Alice is a partner in Axel Partnership. Her share of the partnership's 2013 ordinary business income was $100,000. She received a $60,000 cash distribution from the partnership on December 1, 2013. Assuming that Alice's marginal tax rate is 39.6%, calculate her after-tax cash flow from the partnership in 2012.
Negligence Action
A legal claim made against someone who is alleged to have failed to act with the care that a reasonably prudent person would have in a similar situation, resulting in harm.
Res Ipsa Loquitur
A legal doctrine which allows plaintiffs to prove negligence on the basis of the very nature of an accident or injury occurring, suggesting the defendant's responsibility even without direct evidence of negligence.
Overpressurized
A state where pressure in a system exceeds its designed limits, potentially leading to failure or hazard.
Bottler
A company or entity that places beverages into bottles for distribution and sale.
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