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1. The SGS Co. had $229,000 in taxable income. Use the rates from Table 2.3. (Do not round intermediate calculations and round your answer to

1. The SGS Co. had $229,000 in taxable income. Use the rates from Table 2.3. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Calculate the companys income taxes.

2. Hailey, Inc., has sales of $21000, costs of $9100, depreciation expense of $2400, and interest expense of $1900. Assume the tax rate is 39 percent.

What is the operating cash flow, or OCF? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

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