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Question 9 (3 points) Phillip's Painting owes $24.780 in tax on a taxable income of $99,870. The company has determined that it will owe $27.060
Question 9 (3 points) Phillip's Painting owes $24.780 in tax on a taxable income of $99,870. The company has determined that it will owe $27.060 in tax if its taxable income rises to $105,870. If the firm's taxable income increases from $99,870 to $105,870, what is the marginal tax rate for this additional $6,000 of taxable income? Please record your answer using the following format (12.54) Record your answer to two decimal places. While the answer should be given as a percentage, do NOT place a "%" directly after the number. Do not type the parentheses: just type the number! Your Answer: 2 35 Answer 6 Question 12 (3 points) Wonderland Distribution, Inc had Retained Earnings of $4.925 at the beginning of the year. At the end of the year, the Retained Earnings account balance is $5.498. The Net Income for the year is $938. What is the retention ratio? Please record your answer using the following format (12.54). Record your answer to two decimal places while the answer should be given as a percentage do NOT place a "%" directly after the number. Do not type the parentheses: Just type the number! Your Answer: 9 Answer 15 Question 25 (3 points) A 12.00 percent $1,000 bond matures in 12 years, pays interest semi-annually, and has a yield-to- maturity of 6.00 percent. What is the current market price? Please record your answer using the following format (1407.00) Record your answer to two decimal places DO NOT place a "S" in front of the number Finally, do not use a comma to separate hundreds from thousands. Do not type the parentheses: just type the number! 2 Your Answer: 5 3
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