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Oakdale Fashions, Inc., had $315,000 in 2015 taxable income. Use the tax schedule in Table 2.3 to calculate the companys 201Taxable income $ 315,000 table 2.3 Corporate Tax Rates as of 2015 25% Plus this Percentage Taxable Income (Bottom of TaxableComplete the following analysis. Do not hard code values in your calculations. Tax on base income of bracket Tax on income wi

the answers must be as a formula

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Answer #1

SUM - X fx =ROUND(IF(B3<0,0,1F(B3<50001,83*0.15,1F(B3<75001, (+33-50000)*0.25+7500,1F(B3<100001, (B3-75000)*0.34+13750,1F(B3<

3,15,000 3 Oakdale Fashions Inc. Taxable Income 4. 5 Tax Payable 1,06,100 9 Tax on base income of bracket =50000*15% 7,500 10

=ROUND(IF(B3<0,0,IF(B3<50001,B3*0.15,IF(B3<75001,(+B3-50000)*0.25+7500,IF(B3<100001,(B3-75000)*0.34+13750,IF(B3<335001,(B3-100000)*0.39+22250,IF(B3<1000001,(B3-335000)*0.34+113900)))))),0)

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