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Please do #28 and show work thanks 28. Your corporation has the following cash flows: Operating income Interest received Interest paid $250,000 10,000 45,000 20,000
Please do #28 and show work thanks 28. Your corporation has the following cash flows: Operating income Interest received Interest paid $250,000 10,000 45,000 20,000 50,000 Dividends received Dividends paid If 70 percent of dividends received are excludable, and if the applicable tax table is as follows, Taxable Income laxon Base Rate SO-$50,000 50,000-75,000 75,000-100,000 100,000-335,000 22,250 over $335,000 15% 7,500 13,750 39 113,90034 What is the corporation's tax liability? b. $69,440 c. $65,350 d. $100,280 e. $57,530
Please do #28 and show work thanks
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