The Huntington Rain Gear Company had $633,125 in taxable income in the year ending September 30, 2017.
Question:
Transcribed Image Text:
(1) (2) (3) Marginal Tax Rate: Tax Rate on the Excess Over the Base (4) Pay This Amount on the Base of the Average Tax Rate at Top of Bracket 15.0% Corporations' Taxable Income $0-50,000 50,001–75,000 Bracket 15% 25 7,500 13,750 22,250 113,900 3,400,000 5,150,000 6,416,667 18.3 22.3 34 75,001–100,000 100,001–335,000 335,001–10,000,000 10,000,001–15,000,000 15,000,001–18,333,333 More than 18,333,333 39 34.0 34.0 34 35 34.3 35.0 38 35.0 35
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 72% (11 reviews)
Huntingtons tax bill is calculated as ...View the full answer
Answered By
Keziah Thiga
I am a self motivated financial professional knowledgeable in; preparation of financial reports, reconciling and managing accounts, maintaining cash flows, budgets, among other financial reports. I possess strong analytical skills with high attention to detail and accuracy. I am able to act quickly and effectively when dealing with challenging situations. I have the ability to form positive relationships with colleagues and I believe that team work is great key to performance. I always deliver quality, detailed, original (0% plagirism), well-researched and critically analyzed papers.
4.90+
1504+ Reviews
2898+ Question Solved
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-1119371403
4th edition
Authors: Robert Parrino, David S. Kidwell, Thomas Bates
Question Posted:
Students also viewed these Business questions
-
Calculate Federal Income Tax Withholding Using Two Methods (pre-2020 Form W-4) For each employee listed, use both the wage-bracket method and the percentage method to calculate federal income tax...
-
Using the tax schedule from Exercise 6, calculate the tax for the person in Exercise 14.
-
We have the set A = {31, 32, 33, 34, 35} and the relation R = {(31, 32), (32, 35), (32, 32), (33,33), (32, 33)} = AX A. What is the SUM of the elements of Ran(R), the range of R? REMARK: If you find...
-
ABC Company produces mode trains. During the month of July, it produced 4,000 trains. The actual labor hours were 8 hours per train. Its standard labor hours are 10 hours per train. The standard...
-
The units of an item available for sale during the year were as follows: Jan. 1 ............... inventory .............. 21 units at $1,800 May 15 ............. Purchase .............. 29 units at...
-
The weekly output of a steel mill is a uniformly distributed random variable that lies between 110 and 175 metric tons. a. Compute the probability that the steel mill will produce more than 150...
-
Is there any notion of a trade-off between risk and return involved in an ecoefficiency portfolio matrix? How are green stars and dirty dogs related? In your answer cite examples from an industry...
-
I think I see now where that guy was coming from, but he had me going for a minute there, says Miss deLimit. She is discussing a prototype of display output, one designed by the systems analyst that...
-
Feather Friends, Incorporated, distributes a high-quality wooden birdhouse that sells for $80 per unit. Variable expenses are $40.00 per unit, and fixed expenses total $180,000 per year. Its...
-
Directions: For each of the definitions, write the letter of the appropriate term in the space provided. a. Help system b. Option buttons c. Check boxes d. Command buttons e. Window f. Drop-down menu...
-
You are given the following information about Clarkesville Plumbing Company. Revenues in 2017 totaled $896, depreciation expenses $75, costs of goods sold $365, and interest expenses $54. At the end...
-
What is a major reason for the accounting scandals in the early 2000s? How do firms sometimes attempt to meet Wall Street analysts earnings projections?
-
Refer to CVS Corporations annual report in the Supplement to Chapter 5 to answer the following questions. 1. Consolidated balance sheets: a. Did the amount of working capital increase or decrease...
-
The exercise is designed to give you an experience of trying to make an organisational change and an opportunity to make sense of this experience using relevant theory. You might think about...
-
Copy of vendor invoice #332 for $70,000 received on April 11 showing terms of net 3/15 Payment Voucher with the vendor name, the amount due, and terms with management approval . Copy of the...
-
The golden mean develops our skill of practical wisdom that helps us become better at ascertaining the balance between two extremes. What three terms make up Aristotle's concept of the golden mean?
-
Damon, an undergrad at UCLA University began hearing voices and experiencing paranoid hallucinations. Damon warned that if UCLA did not stop his tormentors, he would "end up acting in a manner that...
-
Wally Bee purchased a new home for $450,000 with a $50,000 down payment. He financed the remainder with a 3% mortgage for 30 years. If Wally had originally planned on using a 15 year mortgage (also...
-
Suppose that after a few mergers and acquisitions, only one bank holds 70% of all deposits in the United States. Would you say that this bank would be considered too big to fail? What does this tell...
-
Use the information given about the angles and to find the exact value of: (a) sin( + ) (b) cos( + ) (c) sin( - ) (d) tan ( + ) (e) sin(2) (f) cos (2) (g) sin /2 (h) cos/2 cos = 4/5, 0 < < /2; cos =...
-
In a large corporation what are the two distinct groups that report to the chief financial officer? Which group is the focus of corporate finance?
-
In a large corporation what are the two distinct groups that report to the chief financial officer? Which group is the focus of corporate finance?
-
What goal should always motivate the actions of a firms financial manager?
-
XYZ Company's 2020 financial statements have the following distributions of the first digits. Digit 1 Frequency 18 15 2345678 5. 0 5 10 6 7 14 8 7 93 What is the Kolmogorov-Smirnov test statistic for...
-
4. The company has provided you the following information with regard to its stock investment acquisition in its initial year of operations: ABC Corp. DEF Inc. H&M Co. Number of Shares acquired 2,000...
-
Question 2 Alan Li, a Singaporean, is employed by Good Luck Ltd (GLL), a company carrying on business in Hong Kong, as a brand manager. He negotiated the terms of his employment with GLL through...
Study smarter with the SolutionInn App