Question
Corporate Tax Liability The Talley Corporation had a taxable income of $370,000 from operations after all operating costs but before (1) interest charges of $74,000,
Corporate Tax Liability
The Talley Corporation had a taxable income of $370,000 from operations after all operating costs but before (1) interest charges of $74,000, (2) dividends received of $14,800, (3) dividends paid of $14,800, and (4) income taxes.
What are the firm's income tax liability and its after-tax income? Round your answers to two decimal places.
Income tax liability= $
After-tax income = $
What are the company's marginal and average tax rates on taxable income? Round your answers to two decimal places.
Marginal tax rate= %
Average tax rate= %
Corporate Tax Liability The Talley Corporation had a taxable income of $370,000 from operations after all operating costs but before (1) interest charges of $74,000, (2) dividends received of $14,800, (3) dividends paid of $14,800, and (4) income taxes. What are the firm's income tax liability and its after-tax income? Round your answers to two decimal places. Income tax liability= $ After-tax income = $ What are the company's marginal and average tax rates on taxable income? Round your answers to two decimal places. Marginal tax rate= % Average tax rate= %Step by Step Solution
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