Question: Hello, I am currently having trouble solving this finance problem. The problem is stated below, and thank you for your time. Elgin Battery Manufacturers had
Elgin Battery Manufacturers had sales of $880,000 in 2015 and their cost of goods sold is 598,400. Selling and administrative expenses were 61,600. Depreciation expense was $8,000 and interest expense for the year was $11,000. The firm's tax rate is 28 percent. What is the dollar amount of taxes paid in 2015? a) $202,960 b) $56,280 c) $228,800 d) $59,360
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