Calculate the federal income tax for the year

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Reference no: EM133655546

A company has the following value on their annual tax return.

Cash flows

Company

Sales revenues, $

Interest revenues, $

Expenses, $

Depreciation, $

1,500,000

31,000

-754,000

148,000

Calculate the following:

1-Net Income (options: $777,000/$925,000/$629,000/$746,000)

2-Calculate the federal income tax for the year ( options: $213,000/$264,180/$314,500/$253,640)

3-Estimate the effective rate (T_e) of 34% federal tax and 6% state tax. (options:38/40/28/46)

4-Estimate the ATCF of that year. (options:$415,140/$660,820/$465,140/$462,500)

5-Bring this ATCF that is 3 years into the future to the present. (options:$311,901/$496,484/$349,467/$347,483)

Reference no: EM133655546

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