A corporation in 2018 expects a gross income of $625,000, total operating expenses of $450,000, and...
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A corporation in 2018 expects a gross income of $625,000, total operating expenses of $450,000, and capital investments of $11,000. In addition the corporation is able to declare $63,000 of depreciation charges for the year. The federal income tax rate is 21%. What is the expected taxable income and total federal income taxes owed for the year 2018? The expected taxable income for the year 2018 is $ (Round to the nearest dollar.) The total federal income taxes owed for the year 2018 is $ (Round to the nearest dollar.) A corporation in 2018 expects a gross income of $625,000, total operating expenses of $450,000, and capital investments of $11,000. In addition the corporation is able to declare $63,000 of depreciation charges for the year. The federal income tax rate is 21%. What is the expected taxable income and total federal income taxes owed for the year 2018? The expected taxable income for the year 2018 is $ (Round to the nearest dollar.) The total federal income taxes owed for the year 2018 is $ (Round to the nearest dollar.)
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