Question
To complete the assignments listed below, refer to the Table 2-1. The Talley Corporation had a taxable income of $335,000 from operations after all operating
To complete the assignments listed below, refer to the Table 2-1. The Talley Corporation had a taxable income of $335,000 from operations after all operating costs but before: (1) interest charges of $67,000, (2) dividends received of $20,100, (3) dividends paid of $23,450, and (4) income taxes. What are the firm's income tax liability and its after-tax income? Round your answers to two decimal places. Income tax liability $ After-tax income $ What are the company's marginal and average tax rates on taxable income? Round your answers to two decimal places. Marginal tax rate % Average tax rate %
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