Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN: 9781337395083
Author: Eugene F. Brigham, Phillip R. Daves
Publisher: Cengage Learning
Bartleby Related Questions Icon

Related questions

Question

What is the dollar amount of taxes paid?

Elgin Battery Manufacturers had sales of $870,000 in 2009 and their
cost of goods sow represented 63 percent of sates. Selling and
administrative expenses were 11 percent of sales. Depreciation
expense was $14,000 and interest expense for me year was $14,000.
The firm's tax rate is 26 percent.
What is the dollar amount of taxes paid?
a) $226,000
b) $99.718
c) $51.532
d) $55.172
expand button
Transcribed Image Text:Elgin Battery Manufacturers had sales of $870,000 in 2009 and their cost of goods sow represented 63 percent of sates. Selling and administrative expenses were 11 percent of sales. Depreciation expense was $14,000 and interest expense for me year was $14,000. The firm's tax rate is 26 percent. What is the dollar amount of taxes paid? a) $226,000 b) $99.718 c) $51.532 d) $55.172
Expert Solution
Check Mark
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Intermediate Financial Management (MindTap Course...
Finance
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Cengage Learning