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26 April, 01:27

As a new entrepreneur, anthony's magic number for 2013 is $42,000. if the current tax rate for his business is 30 percent, calculate the amount that anthony's firm would need to sell for him to get his magic number.

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  1. 26 April, 01:51
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    Assuming that everything Anthony sells is profit and subject to tax; Anthony will need to sell $60,000. Since he will lose $16,000 (30%) to tax, he will be at his magic number of $42,000.
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