In the year 2019, a corporation made $18.8 Million in revenue, $2.2 Million of operating expenses, and depreciation expenses of $6.4 Million. The state income tax rate is 11% and the federal income tax rate is 21%. How much (a) stat income tax, and (b) federal income tax will this corporation pay in this tax year? Assume that the state income tax is a tax-deductable expence when filing federal income tax. 20 .. The approximate state income tax is $ Million (Round to three decimal places.) The approximate federal tax is s Million. (Round to three decimal places.) The combined effective income tax rate is%. (Round to the nearest decimal.) The ATCF for the year 2019 is S Million. (Round to three decimal places.)

In the year 2019, a corporation made $18.8 Million in revenue, $2.2 Million of operating expenses, and depreciation expenses of $6.4 Million. The state income tax rate is 11% and the federal income tax rate is 21%. How much (a) stat income tax, and (b) federal income tax will this corporation pay in this tax year? Assume that the state income tax is a tax-deductable expence when filing federal income tax. 20 .. The approximate state income tax is $ Million (Round to three decimal places.) The approximate federal tax is s Million. (Round to three decimal places.) The combined effective income tax rate is%. (Round to the nearest decimal.) The ATCF for the year 2019 is S Million. (Round to three decimal places.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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