If you pay $2,000 in taxes on an income of $20,000, and a tax of $3,000 on an income of $30,000, then, over this range of income this income tax is
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Summer, Inc., (lessee) entered into an 8-year operating lease on January 1, Year 1. Annual lease payments begin December 31, Year 1. They are $55,000 for Years 1-7 with a final payment in Year 8 of $100,000.
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