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tax rate not given The following information is from Robin Hood Inc. Advertising Expenses S (400.000) Capital Gains Is 150.000 Capital Losses (this year) S

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The following information is from Robin Hood Inc. Advertising Expenses S (400.000) Capital Gains Is 150.000 Capital Losses (this year) S (200,000) Capital Losses (prior year) - Cost of Goods Sold s (4.000.000 Dividend "A"income s 200.000 Dividend "B" income 100.000 Divided income Is 50.000 General and Admin F enesis (1.300.000) Interest Fxpense IS (500,000) Sales Is9.000.000 1. In addition, Robin purchased equipment at the beginning of the year for $750,000. The equipment has a useful life and a salvage value of 14 years and $50,000 respectively. 2. Robin Hood Inc. has varying ownership interest in the 3 companies listed below and receives dividend income from each company. Robin owns 15% of Company "A" Robin owns 45% of Company "B" Robin owns 90% of Company "C" 3. How much of Robin's capital gains are taxable? 4. Calculate Robin's interest expense deduction assuming the following: Adjusted taxable income $ 35,000,000 Business interest income $ 1,000,000 Business interest expense $ 15,000,000 5. How much of the dividend income is taxable? 6. Assuming taxable income is $3,500,000, calculate Robin's tax liability

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