Your corporation has the following cash flows: Operating income $250,000 Interest received 10,000 Interest paid 45,000...

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Your corporation has the following cash flows: Operating income $250,000 Interest received 10,000 Interest paid 45,000 Dividends received 20,000 Dividends paid 50,000 If 70 percent of dividends received are excludable, and if the applicable tax table is as follows, Taxable Income Rate $0-$50,000 15% 50,000-75,000 25 75,000 100,000 34 100,000-335,00039 over $335,000 34 What is the corporation's tax liability? Your corporation has the following cash flows: Operating income $250,000 Interest received 10,000 Interest paid 45,000 Dividends received 20,000 Dividends paid 50,000 If 70 percent of dividends received are excludable, and if the applicable tax table is as follows, Taxable Income Rate $0-$50,000 15% 50,000-75,000 25 75,000 100,000 34 100,000-335,00039 over $335,000 34 What is the corporation's tax liability?

Answer rating: 100% (QA)

Answer To calculate the corporations tax liability we need to determine the taxable income first Tax... View the full answer