Question: Can someone please explain this to me? This question has 23 parts and I have no clue where to start. Thank you in advance!! Average
Can someone please explain this to me? This question has 23 parts and I have no clue where to start. Thank you in advance!!

Average corporate tax rates Using the corporate tax rate schedule given here perform the following: a. Calculate the tax liability, after-tax earnings, and average tax rates for the following levels of corporate earnings before taxes: $12,600; $81,700; $300,000; $498,000; $1.2 million, 59.7 million; and $19.7 million. b. Plot the average tax rates (measured on the y axis) against the pretax income levels (measured on the x axis). What generalization can be made concerning the relationship between these variables? .. a. Find the marginal tax rate for the following levels of corporate earnings before taxes: $12,600; $81,700; $300,000; 5498,000; $1,200,000; 59.7 million; and $19.7 million. The tax liability for earnings before taxes of $12,600 is $ 1,890. (Round to the nearest dollar.) The after-tax earnings on $12,600 are $ (Round to the nearest dollar.) - X More info + + (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Corporate Tax Rate Schedule Tax calculation Range of taxable income Base tax (Marginal rate amount over base bracket) $0 to $50,000 $0 (15% x amount over SO) 50,000 to 75.000 7,500 (25% x amount over 50,000) 75,000 to 100.000 13,750 (34% x amount over 75,000) 100.000 to 335,000 22.250 (39% amount over 100,000) 335,000 to 10,000,000 113,900 (34% x amount over 335,000) 10,000,000 to 15.000.000 3,400,000 (35% X amount over 10,000,000) 15,000,000 to 18,333,333 5,150.000 (38% x amount over 15,000,000) Over 18,333,333 6,416,667 (35% x amount over 18,333,333) + + + + Print Done
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
