Reference no: EM131197567
The Dakota Corporation had a 2015 taxable income of $35,500,000 from operations after all operating costs but before (1) interest charges of $8,800,000; (2) dividends received of $780,000; (3) dividends paid of $5,400,000; and (4) income taxes. a. Use the tax schedule in Table 2.3 to 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 the nearest whole percent.) Average tax rate % Marginal tax rate %
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: The Dakota Corporation had a 2015 taxable income of $35,500,000 from operations after all operating costs but before (1) interest charges of $8,800,000; (2) dividends received of $780,000; (3) dividends paid of $5,400,000; and (4) income taxes. What ..
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