Question
The tax rates are as shown below: Taxable Income Tax Rate $0 50,000 15 % 50,001 75,000 25 % 75,001 100,000 34 % 100,001 335,000
The tax rates are as shown below: Taxable Income Tax Rate $0 50,000 15 % 50,001 75,000 25 % 75,001 100,000 34 % 100,001 335,000 39 % Your firm currently has taxable income of $81,200. How much additional tax will you owe if you increase your taxable income by $22,400?
Multiple Choice $7,616 $8,736 $7,796 $7,406 $7,416
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Cornerstones of Managerial Accounting
Authors: Mowen, Hansen, Heitger
3rd Edition
324660138, 978-0324660135
