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need help with the formulas in excel. for some reason its saying not correct when I enter what I think its asking. Calibri 11 AR
need help with the formulas in excel. for some reason its saying not correct when I enter what I think its asking.
Calibri 11 AR % Paste BIU- Alignment Number Cells Editing Conditional Format as Cell Formatting Table Styles Styles Clipboard 2 Font A1 X f AB D E F 3 4 Oakdale Fashions, Inc., had $315,000 in 2015 taxable income. Use the tax schedule in Table 2.3 to calculate the company's 2015 income taxes. What is the average tax rate? (Round your answer to 2 decimal places. What is the marginal tax rate? 5 6 7 Taxable income 315,000 8 9 10 11 table 2.3 Corporate Tax Rates as of 2015 Plus this Percentage Taxable Income (Bottom of Taxable Income Pay this Amount on Anything Over the Bracket) (Top of Bracket) on Base Income Base $ 50,000 $ 15% $ 50,001 $ 75,000 $ 7,500 25% $ 75,001 $ 100,000 $ 13,750 34% $ 100,001 $ 335,000 $ 22,250 39% 335.001 $ 10.000.000 $ 113.900 34% Sheet1 $ 12 13 14 15 + 11 Calibri 11 PA % Paste Alignment Number Cells Editing Conditional Format as Cell Formatting Table Styles Styles Clipboard Font A1 X f AB D E F 10 11 12 13 Plus this Percentage Taxable income (Bottom of Taxable Income Pay this Amount on Anything Over the Bracket) (Top of Bracket) on Base Income Base $ $ 50,000 $ 15% $ 50,001 $ 75,000 $ 7,500 25% 75,001 $ 100,000 $ 13,750 34% 100,001 $ 335,000 $ 22,250 39% 335,001 $ 10,000,000 $ 113,900 34% 10,000,001 $ 15,000,000 $ 3,400,000 35% 15,000,001 $ 18,333,333 $ 5,150,000 38% 18,333,334 $ 6,416,667 35% 14 15 A A A A A A A 16 17 18 19 20 21 22 Complete the following analysis. Do not hard code values in your calculations. 23 24 25 26 Tax on base income of bracket Tax on income within final bracket Total tax Average tax rate Marginal tax rate 27 28 29 30 Sheet1 THE El READY + + 100%Step by Step Solution
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