Answer
2024
Work Step by Step
Number of years after 1960 = x
Need to solve for the number of years to become 5%,we have an equation as $23-0.28x=5$
or, $0.28x=23-5$
or, $x=64$ (approximately)
Hence, we can conclude it will be approximately on the year of $1960+64=2024$ when the 5% corporate taxes will get reduced or the corporate the income tax drop.
