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Clarion Pop Company is a beverage reseller for the region. Last year Clarion Pop Company had a Net income before taxes of $500000. Based upon
Clarion Pop Company is a beverage reseller for the region. Last year Clarion Pop Company had a Net income before taxes of $500000. Based upon the following tax chart, What was Clarion Pop's Net Income After Taxes?
Tax Calculation | |||||||
Pre-Tax | Amount | Total | |||||
Income | Base Tax | + | % | Over Base | = | Tax | |
$0 | $0 | + | (0.15 | = | |||
60,000 | 7,500 | + | (0.25 | = | |||
90,000 | 13,750 | + | (0.34 | = | |||
200,000 | 22,250 | + | (0.39 | = | |||
400,000 | 113,900 | + | (0.34 | = | |||
1,000,000 | 317,900 | + | (0.34 | = | |||
20,000,000 | 6,416,667 | + | (0.35 | = | |||
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