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A revenue agent determined that Ms. Owen underpaid her tax by $48,900 and concluded that...

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Accounting

A revenue agent determined that Ms. Owen underpaid her tax by $48,900 and concluded that $10,000 was caused by her inadequate record keeping while the remainder was caused by her understandable misapplication of a complex rule of law.

Required: Compute the negligence penalty that the revenue agent can impose on Ms. Owen.

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