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Lynette is the CEO of publicly traded TTT Corporation and earns a salary of $370,000 in...

Lynette is the CEO of publicly traded TTT Corporation and earns a salary of $370,000 in the current year.

What is TTT Corporation’s after-tax cost of paying Lynette’s salary excluding FICA taxes?

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Answer #1
Calculation of after Tax Salary:-
Given, Salary= $370,000
Tax Rate= 21%
After Tax cost = $370,000*[1-0.21]
= 292,300
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