A consumer electronics company was formed to develop cell phones that run on or are recharged by fuel cells. The company purchased a warehouse and converted it into a manufacturing plant for $6,000,000. It completed installation of assembly equipment worth $1,500,000 on December 31st. The plant began operation on January 1st. The company had a gross income of $9,200,000 for the calendar year. Manufacturing costs and all operating expenses, excluding the capital expenditures, were $2,260,000. The depreciation expenses for capital expenditures amounted to $456,000.

= Homework: HW #10: Taxes & Depreciation Question 7, Problem 9-3.. Part 1 of 2 HW Score: 50%, 40 of 80 points X Points: 0 of 10 Save A consumer electronics company was formed to develop cell phones that run on or are recharged by fuel cells. The company purchased a warehouse and converted it into a manufacturing plant for $6,000,000. It completed installation of assembly equipment worth $1,500,000 on December 31st. The plant began operation on January 1st. The company had a gross income of $9, Question Viewer lendar year. Manufacturing costs and all operating expenses, excluding the capital expenditures, were $2,260,000. The depreciation expenses for capital expenditures amounted to $456,000. Click the icon to view the corporate tax schedule for 2015. (a) Compute the taxable income of this company. More info The taxable income of this company is $. (Round to the nearest dollar.) Taxable Income (X) $0-$50,000 50,001-75,000 75,001-100,000 100,001-335,000 335,001-10,000,000 10,000,00115,000,000 15,000,00118,333,333 18,333,334 and up Tax Rate 15% 25% 34% 34% + 5% 34% 35% 35% +3% 35% Tax Computation Formula $0+ 0.15X 7,500 +0.25(X - $50,000) 13,750 +0.34(X - 75,000) 22,250 +0.39(X - 100,000) 113,900 +0.34(X-335,000) 3,400,000 +0.35(x - 10,000,000) 5,150,000 +0.38(X - 15,000,000) 6,416,666 +0.35(X - 18,333,333) Print Done Etext pages Calculator Get more help Clear all Check