Question
The Talley Corporation had a taxable income of $250,000 from operations after all operating costs but before (1) interest charges of $10,000, (2) dividends received
The Talley Corporation had a taxable income of $250,000 from operations after all operating costs but before (1) interest charges of $10,000, (2) dividends received of $10,000, (3) dividends paid of $25,000, and (4) income taxes. If a corporations taxable income is between $100,000 and $335,000, it pays $22,250 on the base of the bracket plus 39% on the excess over the base. Which of the following is not correct? Group of answer choices The companys taxable income is 243,000. The companys average tax rate is 32.10%. The companys net income is 164,980. Total taxes paid by the company is $78,020. The companys marginal tax rate is 39%.
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