Law on Personal Income Tax
b. To calculate the amount of profit you will receive if the proprietor sells 300,000 abalones, subtract the total cost incurred from the total revenue received. Remember to include taxes. Total Revenue Per Year = (Sales Price) (Number Sold) (1 – Tc) = ($2.00) (300,000) (1 - 0.35) = $390,000 ................
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