Question
The tax rates are as shown below: Taxable IncomeTax 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 IncomeTax 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 $80,400. How much additional tax will you owe if you increase your taxable income by $21,600?
Multiple Choice
- $7,444
- $8,424
- $7,064
- $7,054
- $7,344
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
16th Edition
324376375, 0324375743I, 978-0324376371, 9780324375749, 978-0324312140
