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Manny, a calendar-year taxpayer, uses the cash method of accounting for his sole proprietorship. In late December he performed $26,000 of legal services for a client. Manny typically requires his cllents to pay his bills immediately upon receipt Assume Manny's marginal tax rate is 37 percent this year and next yeat, and that he can eain an after-tax rate of return of 9 percent on his investments Required: 6. What is the after-tax income if Manny sends his client the bill in December? b. What is the after-tax incame if Manity sends his client the bill in January? Use Exhibit 3. Note: Round your answer to the nearest whole dollor amount. c. Aased on requirements a and b. should Manny send his client the ball in December of January? Auswer is not complete. Conplete this question by entering your answers in the tabs below. What is the after-tax income if Mariny sends bis cllent the bill in Decomber? Manny, a calendar-year taxpayer, uses the cash method of accounting for his sole proprietorship. In late December he performed $26.000 of legal services for a client. Manny typically requires his clients to pay his bills immediately upon recelpt. Assume Manny's marginal tax rate is 37 percent this year and next year, and that he can earn an after-tax rate of return of 9 percent on his investments. Required: a. What is the after-tax income if Manny sends his client the bill in December? b. What is the after tax income if Manny sends his client the bill in January? Use Exhibit 31. Note: Round your answer to the nearest whole dollor amount. c. Based on requirements a and b, should Manny send his cilent the bill in December or January? 8 Answer is not complete. Complete this question by entering your answers in the tabs below. What is the after-tax income if Manny sends his client the bill in lanuary? Use Exhibit 3.1. Note: Round your answer to the hearest whole dollar amount. Manny, a calendar-year taxpayer, uses the cash method of accounting for his sole proprietorship. In late December he performed 26,000 of legal services for a cllent. Manny typically requires his clients to pay his bills immediately upon receipt. Assume Manny's marginal tax rate is 37 percent this year and next year, and that he can earn an after-tax rate of return of 9 percent on his investments. Required: o. What is the after-tax income if Manny sends his client the bill in December? b. What is the after-tax income if Manmy sends his client the bill in January? Use Exhtibil 31 Note: Round your answer to the nearest whole dollor amount. c. Based on requirements a and b, should Manny send his cllent the bill in December or January? Answer is not complete. Complete this question by entering your answers in the tabs below. Hased on requirements a and b, should Manay send his client the bill in December or lanuary