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Calculate Borat bonuses and income taxes

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Reference no: EM132884163

Problem - Borat Company gives annual bonuses after the end of the year. Borat computes the bonuses based on the company's net income after deducting the bonuses but before deducting income taxes. Borat's income before bonuses and income taxes is $565,000 for the current year. The effective income tax rate is 21%, and the bonus rate is 12% Calculate Borat's bonuses and income taxes for the current year. Round your final answer to two decimal places.

Reference no: EM132884163

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