The SGS Co. had $227,000 in taxable income. Use the rates from Table 2.3. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)   Calculate the company’s income taxes.

Essentials Of Investments
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Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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The SGS Co. had $227,000 in taxable income. Use the rates from Table 2.3. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

 

Calculate the company’s income taxes.

Taxable Income
Tax Rate
TABLE 2.3
0-
50,000
15%
Corporate tax rates
50,001-
75,000
25
100,000
335,000
335,001- 10,000,000
10,000,001- 15,000,000
75,001-
34
39
34
100,001-
35
15,000,001- 18,333,333
38
18,333,334+
35
Transcribed Image Text:Taxable Income Tax Rate TABLE 2.3 0- 50,000 15% Corporate tax rates 50,001- 75,000 25 100,000 335,000 335,001- 10,000,000 10,000,001- 15,000,000 75,001- 34 39 34 100,001- 35 15,000,001- 18,333,333 38 18,333,334+ 35
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