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10) (10pts) If the video division of Marvel Comics has an annual gross income of 3,650,000 with expenses and depreciation totaling 2,150,000 compute the
10) (10pts) If the video division of Marvel Comics has an annual gross income of 3,650,000 with expenses and depreciation totaling 2,150,000 compute the company's exact federal income taxes. (**use the Corporate Federal Income Tax Rate Schedule below to calculate**) a) $720,000 b) $510,000 c) $620,000 d) $410,000 Over 0 50,000 75,000 100,000 335,000 10,000,000 15,000,000 18,333,333 Corporate Federal Income Tax Rate Schedule If Taxable Income ($) Is: Tax Is 15% 7,500 + 25% 13,750 + 34% 22,250 + 39% 113,900 + 34% 3,400,000 + 35% 5,150,000+ 38% 35% But Not Over 50,000 75,000 100,000 335,000 10,000,000 15,000,000 18,333,333 Of The Amount Over 0 50,000 75,000 100,000 335,000 10,000,000 15,000,000 0
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