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A corporation in 20182018 expects a gross income of $425 comma 000425,000, total operating expenses of $300 comma 000300,000, and capital investments of $10 comma
A corporation in
20182018
expects a gross income of
$425 comma 000425,000,
total operating expenses of
$300 comma 000300,000,
and capital investments of
$10 comma 00010,000.
In addition the corporation is able to declare
$53 comma 00053,000
of depreciation charges for the year. The federal income tax rate is
2121%.
What is the expected taxable income and total federal income taxes owed for the year
20182018?
A corporation in 2018 expects a gross income of $425,000, total operating expenses of $300,000, and capital investments of $10,000. In addition the corporation is able to declare $53,000 of depreciation charges for the year The federal income tax rate is 21%. What is the expected taxable income and total federal income taxes owed for the year 2018? The expected taxable income for the year 2018 is S(Round to the nearest dollar)Step by Step Solution
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