Question: Question 1 (10 points) If the owner expects a 15% return on his investment of $1 million and the tax rate is 25%, what

Question 1 (10 points) If the owner expects a 15% return onhis investment of $1 million and the tax rate is 25%, whatis the before tax income and the amount of tax paid. Ifthe actual income after tax was $75,000 give the variance in $and % and 2 reasons why this might have happened.image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Question 1 (10 points) If the owner expects a 15% return on his investment of $1 million and the tax rate is 25%, what is the before tax income and the amount of tax paid. If the actual income after tax was $75,000 give the variance in $ and % and 2 reasons why this might have happened.

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