QUESTION 16 19) A company has a gross income of 6,000,000. They had operating expenses of 4,000,000. They bought a machine during the year that cost 2,000,000. he machine has a life expectancy of 5 years and a salvage value of 400,000. Based on straight line with half year convention what is their taxable incomein year 1 2,000,000 1,900,000 1,840,000 1,750,000 QUESTION 17 A company had sales last year of 3,000,000. They had operating expenses of 1,600,000. They bought a machine that cost 500,000 that has a life of 10 years and a salvage value of 15,000. Based on MACRS what was their taxable income 1,250,000 1,300,000 1,350,000 1,400,000 QUESTION 18 A company had sales last year of 3,000,000. They had operating expenses of 1,600,000. They bought a machine that cost 500,000 that has a life of 10 years and a salvage value of 15,000. Based on the S/L with half year convention what was their taxable income. 1,375,750 1,425,000 1,450,300 1,600,350 QUESTION 19 Based on the federal tax chart what are the taxes owed in the following situation Taxable income $500,000 125,000 150,000 160,000 170,000 QUESTION 20 Based on the federal tax chart what are the taxes owed in the following situation Taxable income $45,000 2500 6750 8965 QUESTION 21 Based on the federal tax chart what are the taxes owed in the following situation Taxable income $1,500,000 510,000 575,000 625,000 801,000