QUESTION 1 You have the following information from 2020 and are looking to forecast 2021. In 2021 you expect sales to be equal to $11 million. Using the "Percent-of-Sales" model, what is the expected taxes you'll pay assuming no increase in debt? Account 2020 Information costs (excluding Depreciation) 7496 of Sales Depreciation 696 of Sales cost of Debt 796 Debt $20 million Taxes 396 of Sales Tax rate 25% $280,000 $310,000 $330,000 O $350,000