1) The Talley Corporation had taxable operating income of $420,000 (i e , earnings from operating revenues minus all operating costs) Talley also had (1) interest charges of $70,000, (2) dividends received of $10,000, and (3) dividends paid of $25,000 Its federal tax rate was 21 (ignore any possible state corporate taxes) Recall that 50 of dividends received are tax exempt What is the firm's taxable income What is the tax expense What is the after tax income 2) The Wendt Corporation reported $70 million of taxable income Its federal tax rate was 21 (ignore any possible state corporate taxes) What is the company's federal income tax bill for the year Enter your answer in dollars Assume the firm receives an additional $4 million of interest income from some bonds it owns What is the additional tax on this interest income Enter your answer in dollars For example, an answer of $1 2 million should be entered as 1,200,000 Round your answer to the nearest dollar Now assume that Wendt does not receive the interest income but does receive an additional $4 million as dividends on some stock it owns Recall that 50 of dividends received are tax exempt What is the additional tax on this dividend income Enter your answer in dollars For example, an answer of $1 2 million should be entered as 1,200,000 Round your answer to the nearest dollar 3) use the table to answer the questions Suppose the federal plus state tax corporate tax is 25 Answer the following questions What is the net operating profit after taxes (NOPAT) for 2020 Enter your answer in millions For example, an answer of $1 million should be entered as 1, not 1,000,000 Round your answer to the nearest whole number What are the amounts of net operating working capital for both years What are the amounts of total net operating capital for both years Enter your answers in millions What is the free cash flow for 2020 What is the ROIC for 2020 Round your answer to two decimal places How much of the FCF did Rhodes use for each of the following purposes after tax interest, net debt repayments, dividends, net stock repurchases, and net purchases of short term investments ( Hint Remember that a net use can be negative ) After tax interest payment Reduction (increase) in debt payment of dividends Repurchase (Issue) stock Purchase (Sale) of short term investments

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1) The Talley Corporation had taxable operating income of $420,000 (i.e., earnings from operating revenues minus all operating costs). Talley also had (1) interest charges

1) The Talley Corporation had taxable operating income of $420,000 (i.e., earnings from operating revenues minus all operating costs). Talley also had (1) interest charges of $70,000, (2) dividends received of $10,000, and (3) dividends paid of $25,000. Its federal tax rate was 21% (ignore any possible state corporate taxes). Recall that 50% of dividends received are tax exempt.

What is the firm's taxable income?

What is the tax expense?

What is the after-tax income?

2) The Wendt Corporation reported $70 million of taxable income. Its federal tax rate was 21% (ignore any possible state corporate taxes).

What is the company's federal income tax bill for the year? Enter your answer in dollars.
Assume the firm receives an additional $4 million of interest income from some bonds it owns. What is the additional tax on this interest income? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000. Round your answer to the nearest dollar.
Now assume that Wendt does not receive the interest income but does receive an additional $4 million as dividends on some stock it owns. Recall that 50% of dividends received are tax exempt. What is the additional tax on this dividend income? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000. Round your answer to the nearest dollar.

3) use the table to answer the questions

Suppose the federal-plus-state tax corporate tax is 25%. Answer the following questions.

What is the net operating profit after taxes (NOPAT) for 2020? Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answer to the nearest whole number.
What are the amounts of net operating working capital for both years?
What are the amounts of total net operating capital for both years? Enter your answers in millions.
What is the free cash flow for 2020?
What is the ROIC for 2020? Round your answer to two decimal places.
How much of the FCF did Rhodes use for each of the following purposes: after-tax interest, net debt repayments, dividends, net stock repurchases, and net purchases of short-term investments? (Hint: Remember that a net use can be negative.)
After-tax interest payment
Reduction (increase) in debt
payment of dividends
Repurchase (Issue) stock
Purchase (Sale) of short-term investments