During the year, AutoUSA Incorporated reported $4,600,000 of gross receipts, including $20,000 of interest income...
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Accounting
During the year, AutoUSA Incorporated reported $4,600,000 of gross receipts, including $20,000 of interest income from tax-exempt municipal bonds. AutoUSA reported $3,600,000 of regular business expenses. If it made $200,000 of estimated tax payments (prepayments) throughout the tax year, what is its tax due or tax refund when it files its return?
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