Question: in excel pleasee with the formulas 12. (0.75 pt.] Two companies, ABC and XYZ, have the following values on their annual tax returns: ABC Company

in excel pleasee with the formulas 12. (0.75 pt.] Two companies,

in excel pleasee with the formulas

12. (0.75 pt.] Two companies, ABC and XYZ, have the following values on their annual tax returns: ABC Company Sales revenue, $ Interest revenue, $ Operating expenses, $ Depreciation, $ 1,500,000 31,000 -754,000 148,000 XYZ 820,000 25,000 -591,000 18,000 a. Calculate the exact federal income taxes for the year. b. Determine the percentage of sales revenue each company will pay in federal income taxes. C. Estimate the taxes using an effective rate on the entire Tl of the marginal percentages in Table 171, that is, 34% for ABC and 39% for XYZ. Determine the percentage errors made relative to the exact taxes in (a)

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