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Assume that Edward, who pays 20 percent in income taxes, plans to contribute $600,000 to not- for-profit Pinewood Comm Hospital. Without the contribution, his tax

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Assume that Edward, who pays 20 percent in income taxes, plans to contribute $600,000 to not- for-profit Pinewood Comm Hospital. Without the contribution, his tax bill would be $3,000,000. What would be the tax savings if the contribution is made? And Assume that Belle, who pays 15 percent in income taxes, plans to contribute $375,000 to not- for-profit Pinewood Comm Hospital. Without the contribution, her tax bill would be $2,500,000. What would be the tax bill if the contribution is made? And Mary & Katie Peters are in the 20 percent tax bracket, considering both federal and state personal taxes. Sammy Adams, the CEO of a hospital, has been pursuing a contribution from them of $500,000 to the hospital's soon-to-be-built Cancer Care Center. With the contribution, the Peters taxable income would be $2,500,000. What would be the Peters tax without the contribution on their tax bill

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