Wayne Corporation had income from operations of $385,000, it received interest payments of $15,000, it paid...

 

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Wayne Corporation had income from operations of $385,000, it received interest payments of $15,000, it paid interest of $20,000, it received dividends from another corporation of $10,000, and it paid $40,000 in dividends to its common stockholders. What is Wayne's federal income tax? $141,700 $130,220 $122,760 $163,500 $155,200 Wayne Corporation had income from operations of $385,000, it received interest payments of $15,000, it paid interest of $20,000, it received dividends from another corporation of $10,000, and it paid $40,000 in dividends to its common stockholders. What is Wayne's federal income tax? $141,700 $130,220 $122,760 $163,500 $155,200

Answer rating: 100% (QA)

Answer To calculate Wayne Corporations federal income tax we need to determine its taxable income fi... View the full answer