Question: Corporation Growth has $83, 500 in taxable income, and Corporation Income has $8, 350,000 in taxable income. What is the tax bill for each firm?

Corporation Growth has $83, 500 in taxable income, and Corporation Income

Corporation Growth has $83, 500 in taxable income, and Corporation Income has $8, 350,000 in taxable income. What is the tax bill for each firm? (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Suppose both firms have identified a new project that will increase taxable income by $7,000. How much in additional taxes will each firm pay? (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)

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