30. Prior to the Tax Cuts and Jobs Act, corporations faced a progressive tax rate schedule with rates ranging from 15% to 39%. Under that old tax law, a firm with taxable income of $100 million would have owed taxes of $35 million. Under the Tax Cuts and Jobs Act, the corporate tax rate is a flat 21%. For a firm that makes $100 million in taxable income, the size of the tax reduction that the firm enjoys because of the new tax law is closest to ________.

Group of answer choices

$18 million

$21 million

$14 million

$35 million

28.Which of the following is a routine way that boards try to align the interests of managers and stockholders?

Group of answer choices

fire managers who are inefficient

remove management's perquisites

tie management compensation to the performance of the company's common stock price

tie management compensation to the level of dividend per share

24.Which of the following is a strength of a corporation?

Group of answer choices

low taxes

limited liability

low organization costs

less government regulation