Question: Consider the simple income statement model below. The company would like donate 15% of its net income to charity. How much will they contribute?

Consider the simple income statement model below. The company would like donate 15% of its net income to

Consider the simple income statement model below. The company would like donate 15% of its net income to charity. How much will they contribute? Contribution Rate Income Tax Rate Revenue Costs Operating Income Charitable Contribution Income Before Tax Income Tax Net Income 15% 40% Circular Reference $250,000 $200,000 $50,000.00 $50,000.00 $20,000.00 $30,000.00

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