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Moto Incorporated pays state income tax at a 6 percent rate and federal income tax at a 21 percent rate. Moto recently engaged in a

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Moto Incorporated pays state income tax at a 6 percent rate and federal income tax at a 21 percent rate. Moto recently engaged in a transaction in Country N, which levied a $97,300 tax on the transaction. This year, Moto generated $2.738 million net income before consideration of any tax. Required: a. Compute Moto's total tax burden (federal, state, and foreign) assuming that the tax paid to Country N is deductible for both state and federal tax purposes. b. Compute Moto's total tax burden (federal, state, and foreign) assuming that the tax paid to Country N is not deductible for state tax purposes but is deductible for federal tax purposes. c. Compute Moto's total tax burden (federal, state, and foreign) assuming that the tax paid to Country N is not deductible for either state or federal tax purposes. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute Moto's total tax burden (federal, state, and foreign) assuming that the tax paid to Country N is deductible for both state and federal tax purposes. (Deductions should be indicated by a minus sign. Round your intermediate calculations and final answers to the nearest whole dollar amount. Enter your answers in dollars not in millions.) $ 2,738,000 State tax computation: Pretax income Deduction for foreign tax State taxable income $ State income tax rate 2,738,000 6 % 164,280 State tax $ $ 2,738,000 Federal tax computation: Pretax income Deduction for foreign tax Deduction for state tax Federal taxable income Federal income tax rate Federal tax $ 2,738,000 % Moto's total tax burden Moto Incorporated pays state income tax at a 6 percent rate and federal income tax at a 21 percent rate. Moto recently engaged in a transaction in Country N, which levied a $97,300 tax on the transaction. This year, Moto generated $2.738 million net income before consideration of any tax. Required: a. Compute Moto's total tax burden (federal, state, and foreign) assuming that the tax paid to Country N is deductible for both state and federal tax purposes. b. Compute Moto's total tax burden (federal, state, and foreign) assuming that the tax paid to Country N is not deductible for state tax purposes but is deductible for federal tax purposes. c. Compute Moto's total tax burden (federal, state, and foreign) assuming that the tax paid to Country N is not deductible for either state or federal tax purposes. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute Moto's total tax burden (federal, state, and foreign) assuming that the tax paid to Country N is not deductible for state tax purposes but is deductible for federal tax purposes. (Deductions should be indicated by a minus sign. Round your intermediate calculations and final answers to the nearest whole dollar amount. Enter your answers in dollars not in millions.) $ 2,738,000 State tax computation: Pretax income Deduction for foreign tax State taxable income $ State income tax rate State tax 2,738,000 6% 164,280 $ Federal tax computation: $ 2,738,000 Pretax income Deduction for foreign tax Deduction for state tax Federal taxable income $ 2,738,000 Federal income tax rate % Federal tax Moto's total tax burden Moto Incorporated pays state income tax at a 6 percent rate and federal income tax at a 21 percent rate. Moto recently engaged in a transaction in Country N, which levied a $97,300 tax on the transaction. This year, Moto generated $2.738 million net income before consideration of any tax. Required: a. Compute Moto's total tax burden (federal, state, and foreign) assuming that the tax paid to Country N is deductible for both state and federal tax purposes. b. Compute Moto's total tax burden (federal, state, and foreign) assuming that the tax paid to Country N is not deductible for state tax purposes but is deductible for federal tax purposes. c. Compute Moto's total tax burden (federal, state, and foreign) assuming that the tax paid to Country N is not deductible for either state or federal tax purposes. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute Moto's total tax burden (federal, state, and foreign) assuming that the tax paid to Country N is not deductible for either state or federal tax purposes. (Deductions should be indicated by a minus sign. Round your intermediate calculations and final answers to the nearest whole dollar amount. Enter your answers in dollars not in millions.) $ 2,738,000 State tax computation: Pretax income Deduction for foreign tax State taxable income $ 2,738,000 6% State income tax rate State tax $ 164,280 $ 2,738,000 Federal tax computation: Pretax income Deduction for foreign tax Deduction for state tax $ 2,738,000 Federal taxable income Federal income tax rate % Federal tax Moto's total tax burden

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