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28 Sep 2019
Corporate Tax Liability
To complete the assignments listed below, refer to the Table 2-1.
The Talley Corporation had a taxable income of $320,000 from operations after all operating costs but before (1) interest charges of $32,000, (2) dividends received of $19,200, (3) dividends paid of $19,200, 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 %
Corporate Tax Liability
To complete the assignments listed below, refer to the Table 2-1.
The Talley Corporation had a taxable income of $320,000 from operations after all operating costs but before (1) interest charges of $32,000, (2) dividends received of $19,200, (3) dividends paid of $19,200, 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 | % |
Hubert KochLv2
28 Sep 2019
