Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

no need to explain thank you Mr. Ohno owns and operates a part-time service business that generates P80,000 annual taxable income. His federal tax rate

image text in transcribed

no need to explain thank you

Mr. Ohno owns and operates a part-time service business that generates P80,000 annual taxable income. His federal tax rate on this income is 17%. Because of recent legislation, this rate will increase to 25% next year. Question 79 Not yet answered Marked out of 1.00 P Flag question Based on a static forecast, how much additional revenue will the federal government collect from Mr. Ohno next year? Answer: Question 80 Not yet answered Marked out of 1.00 P Flag question How much additional revenue will the federal government collect if Mr. Ohno decides to work fewer hours and consequently earns only P50,000 next year

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

If f(x) - 8 / x - 1 = 10, find f(x). lim

Answered: 1 week ago