With the possible election of former Vice-President Joe Biden (still counting votes!), the
possibilty of a tax hike on small business owners seems possible. Compute the total tax paid, both
corporate and personal for both the current and Biden tax rates, based on the information below. Assume all Net Income is paid to you as a dividend.
Part a
Sales	$ 10,000,000
COGS	65%
Operating Expenses	$ 2,000,000
Interest	$ 1,000,000
Present Tax Rate Corp	21%
Present Personal Dividend Rate	20%
Biden Tax Rate Corp	28%
Biden Personal Dividend Rate	39%

A 1 Yas problem 10 points) G Name: H M N 3 With the possible election of former Vice President Joe Biden still countingvotes), the possibility of a tax hike on small business owners seems possible. Compute the total tax paid, both 3 corporate and personal for both the current and Biden tax rate based on the information below. Assume all Net Income is paid to you as a dividend. 6 7 Parta Sales $10.000.000 9 COGS 659 10 Operating Expenses $ 2.000.000 11 Interest 1.000.000 12 Present Tax Rate Corp 215 13 Present Personal Dividend Rats 20% 14 Biden Tax Rate Corp 28% 15 Biden Personal Dividend Rate 39 16 17 11 20 22 24 25 20 27 28 29 30 32 33 Grade Chapter 12 Chapter Chapter 14 Charter Chapter Clapter BE Search O 3