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Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Please answer this question correctly. Thank you.
![Elgin Battery Manufacturers had sales of $1,000,000 in 2015 and their cost of goods
sold is $700,000. Selling and administrative expenses were $100,000. Depreciation
expense was $80,000 and interest expense for the year was $10,000. The firm's tax
rate is 30 percent. What is the dollar amount of taxes paid in 2015?
O $33,000
O $300,000
O $36,000
O $117,800](https://content.bartleby.com/qna-images/question/47c99073-8ad3-48a4-8223-56c2c82fdab4/c5302625-6a47-4e57-85c2-223104927e05/fieiano_thumbnail.jpeg)
Transcribed Image Text:Elgin Battery Manufacturers had sales of $1,000,000 in 2015 and their cost of goods
sold is $700,000. Selling and administrative expenses were $100,000. Depreciation
expense was $80,000 and interest expense for the year was $10,000. The firm's tax
rate is 30 percent. What is the dollar amount of taxes paid in 2015?
O $33,000
O $300,000
O $36,000
O $117,800
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