Problem 2-18 Marginal versus Average Tax Rates (LO4) In 2019, Alberta-based Corporation Growth has $96,000 in...

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Problem 2-18 Marginal versus Average Tax Rates (LO4) In 2019, Alberta-based Corporation Growth has $96,000 in taxable income, and Alberta-based Corporation Income has $10,500,000 in taxable income. Use the tax rates from Table 2.7. a. What is the tax bill for each? (Omit $ sign in your response.) Firms Alberta-based Corporation Growth Alberta-based Corporation Income Tax Bill $ $ b. Suppose both firms have identified a new project that will increase taxable income by $27,000. How much additional taxes will each firm pay? (Omit $ sign in your response.) Firms Alberta-based Corporation Growth Alberta-based Corporation Income Additional Taxes $ $ 7,290 c. Is this amount the same? Yes No Problem 2-18 Marginal versus Average Tax Rates (LO4) In 2019, Alberta-based Corporation Growth has $96,000 in taxable income, and Alberta-based Corporation Income has $10,500,000 in taxable income. Use the tax rates from Table 2.7. a. What is the tax bill for each? (Omit $ sign in your response.) Firms Alberta-based Corporation Growth Alberta-based Corporation Income Tax Bill $ $ b. Suppose both firms have identified a new project that will increase taxable income by $27,000. How much additional taxes will each firm pay? (Omit $ sign in your response.) Firms Alberta-based Corporation Growth Alberta-based Corporation Income Additional Taxes $ $ 7,290 c. Is this amount the same? Yes No