You have sales of $250,000 and cost of goods sold (materials and labor) comes to $155,000. Assuming

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You have sales of $250,000 and cost of goods sold (materials and labor) comes to $155,000. Assuming no other income or expenses:

a. what is your tax bill?

b. what is the marginal rate?

c. what is the average rate?

The problem above continues. In addition to the above, you have posted $10,000 in interest income and paid $25,000 in common stock dividends.

a. what is your new tax bill?

b. what is the new marginal rate?

c. what is the new average rate?

Related Book For answer-question

Financial Accounting

ISBN: 978-0134725987

12th edition

Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

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Posted Date: Jan 18, 2021 04:01 PM

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You have sales of $250,000 and cost of goods sold (materials and labor) comes to $155,000. Assuming

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Tax Slab for corporate tax rate Income up to 50000 15 ... View the full answer

Financial Accounting

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