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Business, 26.05.2021 01:00 ConfusedJuliana

Zubin Ltd. had set the transfer price at $40 for the purchase of goods from its U. S. subsidiary. But the IRS audited the transfer price and determined that it should have been using a transfer price of $190. Assuming the adjustment results in an increase in U. S. tax liability of $200,000. Determine the penalty amount.

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Zubin Ltd. had set the transfer price at $40 for the purchase of goods from its U. S. subsidiary. Bu...
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