4) For a taxable income of $100000 what would the tax be?

A. $27250 B. $23000 C. $25220 D. $22250

7) What is investment tax credit for an asset of 15,000,000 with a 10 year life for 1981 ITC system?

B. 1500000

8) Find ITC5 for 120000 in a 1981 ITC system.

A. 12000 B. 120000 C. 80000

D. 8000

9) What is the investment tax credit of 200,000 with a 4 year life for 1985 ITC system?

A. 12000 B. 120000 C. 80000 D. 8000

10) What is the alternate allowance for the above problem?

A. 12000 B. 120000 C. 80000 D. 8000

14) Find investment credit for $350000 in 1981 ITC system for a span of 6 years.

A. 23333.3 B. 11666.66 C. 22666.6 D. 11333.3

15) In the above problem what the penalty be if the asset is sold after 3 years?

A. 23333.3 B. 11666.66 C. 22666.6 D. 11333.3