Elgin Battery Manufacturers had sales of $860,000 in 2009 and its cost of sales represented 60 percent of sales. Selling and administrative expenses were 8 percent of sales. Depreciation expense was $19,000 and interest expense for the year was $8,000. The business tax rate is 29 percent. 

What is the dollar amount of taxes paid?

Answer rating: 100% (QA)

Calculation of Net Profit Particular Sales Less Cost ... View the full answer