Question 14 Homework Unanswered Crystal Co. is considering investing in equipment for $200,000 which it expects will last ten years and then be worthless. Crystal is in the 21% tax bracket. The company expects the equipment will generate $24,000 in net income before taxes annually over the next 10 years. What is the expected after-tax cash flow for this equipment? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a $38,960 b 18,960 $14,760 d $34,760 Olcott, Inc. had the following partial income statement for the year. How much is Olcott's net income if the tax rate is 21%? Sales Cost of goods sold Gross profit Insurance expense Advertising expense Rent expense Business meal with clients Federal income tax Net income $113,000 ($41,000) $72,000 ($6,000) ($5,000) ($12,000) ($3,000) ? ? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a $47,500 b $37,525 $46,000 d $36,340