The Talley Corporation had taxable operating income of $470,000 (i.e., earnings from operating revenues minus all operating costs). Talley also had (1) interest charges of $60,000, (2) dividends received of $25,000, and (3) dividends paid of $30,000. Its federal tax rate was 21% (ignore any possible state corporate taxes). Recall that 50% of dividends received are tax exempt. What is the firm’s taxable income? Round your answer to the nearest dollar. $ What is the tax expense? Round your answers to the nearest dollar. $ What is the after-tax income? Round your answers to the nearest dollar. $
taxable income= 422500
taxable expense= 88725
after tax expense = ? I thought it was 333,7775 but im told it was wrong. I'm confused
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The Talley Corporation had taxable operating income of $470,000 (i.e., earnings from operating revenues minus all...
Corporate Tax Liability The Talley Corporation had taxable operating income of $305,000 (i.e., earnings from operating revenues minus all operating costs). Talley also had (1) interest charges of $60,000, (2) dividends received of $10,000, and (3) dividends paid of $25,000. Its federal tax rate was 21% (ignore any possible state corporate taxes). Recall that 50% of dividends received are tax exempt. What is the firm's taxable income? Round your answer to the nearest dollar. $ What is the tax expense?...
the talley corporation had taxable operation income $400000(i.e earnings from operating minus all operating cost ). talley also had (1) interest charges of $50000 , 2. dividend received of $25000,and 3) dividends paid of $ 40000.its federal tax was 21% ( ignore any possible state corporate taxes) recall that 50% of dividends received are tax exempt. what is the firms taxable income what is the tax expense. what is the after- tax income
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1. In its most recent financial statements, Del-Castillo Inc. reported $70 million of net income and $850 million of retained earnings. The previous retained earnings were $830 million. How much in dividends did the firm pay to shareholders during the year? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000. Round your answer to the nearest dollar. 2. The Talley Corporation had taxable operating income of $400,000 (i.e., earnings from operating revenues...
The Dakota Corporation had a 2021 taxable income of $7,700,000 from operations after all operating costs but before (1) interest charges of $1,400,000, (2) dividends received or $98,000. (3) dividends paid of $860,000, and (4) Income taxes (the firm's tax rate is 21 percent) a. Calculate Dakota's Income tax liability. (Round your answer to the nearest dollar amount.) Income tax liability b. What are Dakota's average and marginal tax rates on taxable income? (Round your answers to 2 decimal places.)...
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3 (10 points). a. The Talley Corporation had a taxable income of $1.000.000 from operation after all operating costs but before: (1) interest charges of ss0.000. (2) dividends received on $15,000, (3) interest received of $10.000 (4) dividends paid of $25,000, and (5) income taxes. What are the firm's total taxable income and income tax liability assuming at 21% tax rate and 50% of the dividend received are excluded from taxable income)? b. Using the previous information, what are the...
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