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17 Fast Turnstiles Co. is evaluating the extension of credit to a new group of customers. Although these customers will provide $234,000 in additional credit sales, 15 percent are likely to be uncollectible. The company will also incur $16,500 in additional collection expense. Production and marketing costs represent 70 percent of sales. The rm is in a 30 percent tax bracket and has a receivables turnover of four times. No other asset buildup will be required to service the new customers. The rm has a 10 percent desired return. points a-1. Calculate the incremental income after taxes. Incremental income afterlaxes | Skipped eBook Hll'lt Print a-2. Calculate the return on incremental investmen.. (Input your answer as a percent rounded to 2 decimal places.) Return on incremental investment I % a-3. Should Fast Turnstiles Co. extend credit to these customers? 0 Yes 0 No \f\f18 points Sklpped eBook Hll'lt Pllm Global Services is considering a promotional campaign that will increase annual credit sales by $570,000. The company will require investments in accounts receivable, inventory, and plant and equipment. The turnover for each is as follows: Accounts receivable 3 times Inventory 6 times Plant and equipment 1 time All $570,000 ofthe sales will be collectible. However. collection costs will be 3 percent of sales, and production and selling costs will be 70 percent of sales. The cost to carry inventory will be 6 percent of inventory. Depreciation expense on plant and equipment will be 5 percent of plant and equipment. The tax rate is 30 percent. a. Compute the investments in accounts receivable, inventory, and plant and equipment based on the turnover ratios. Add the three together. Accounts receivable lnventory Plant and equtpment Total lnvestrnent 18 b. Compute the accounts receivable collection costs and production and selling costs and then add the two gures together. points Collection cost Production and selling costs Skipped Total collection, production, and selling costs eEook Hll'lt an c. Compute the costs of carrying inventory. Cost of carrying inventory I :1. Compute the depreciation expense on new plant and equipment. Depreciation expense I 1 8 e. Compute the total of all costs from parts b through d. Total costs points Skinned E'BDOK . f. Compute Income after taxes. HII'It Income aer taxes I Prlnt 9-1. What is the aertax rate of return? (Input your answer as a percent rounded to 2 decimal places.) Aflerlax rate of return '96