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Activity Information Moose Industries faces the following tax schedule: Taxable Income Up to $50,000 $50,000-$75,000 $75,000-$100,000 $100,000-$335,000 $335,000-$10,000,000 $10,000,000-$15,000,000 $15,000,000-$18,333,333 Over $18,333,333 Tax on Base
Activity Information Moose Industries faces the following tax schedule: Taxable Income Up to $50,000 $50,000-$75,000 $75,000-$100,000 $100,000-$335,000 $335,000-$10,000,000 $10,000,000-$15,000,000 $15,000,000-$18,333,333 Over $18,333,333 Tax on Base of Bracket $0 7,500 13,750 22,250 113,900 3,400,000 5,150,000 6,416,667 Percentage on Excess above Base 15% 25 34 39 34 35 38 Last year the company realized $13.500,000 in operating income (EBIT). Its annual interest expense is $1,500,000. What was the company's net income for the year? O a. $9,085,000 O b. $7,742,000 O c. $8,927,000 O d, $6,004,000 O e. $7,900,000
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