A company has an annual revenue of $850,000. The business expenses for the year are $610,902...

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A company has an annual revenue of $850,000. The business expenses for the year are $610,902 and they can claim $116,955 in depreciation expenses. Using the table below, how much does the company pay in federal income tax? Enter your value with 2 decimal places. Taxable Income 0 - $15,000 $15,001 - $35,000 $35,001 $50,000 $50,001 $75,000 $75,000 $150,000 Over $150,001 Federal Tax % 12% 22% 24% 32% 35% 37% A company has an annual revenue of $850,000. The business expenses for the year are $610,902 and they can claim $116,955 in depreciation expenses. Using the table below, how much does the company pay in federal income tax? Enter your value with 2 decimal places. Taxable Income 0 - $15,000 $15,001 - $35,000 $35,001 $50,000 $50,001 $75,000 $75,000 $150,000 Over $150,001 Federal Tax % 12% 22% 24% 32% 35% 37%

Answer rating: 100% (QA)

To calculate the federal income tax we need to determine the taxable incom... View the full answer