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The manager of Yates Company is given a bonus based on income before income taxes....

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Accounting

The manager of Yates Company is given a bonus based on income before income taxes. Net income, after taxes, is $5,600 for FIFO and $5,040 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager's bonus if FIFO is adopted instead of LIFO? Question 22 options: 1) $560 2) $200 3) $300 4) $160

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