Reference no: EM132731048
Problem 1: compute the OPT.
Fly Away Air Lines (a resident international carrier) has the following data for the current year:
Gross receipts, Philippines (passenger operations) 10,000,000
Gross receipts, Philippines (cargo operations) 6,000,000
Gross receipts, Japan (passenger operations) 8,000,000
Gross receipts, Japan (cargo operations) 5,000,000
Expenses, Philippines (passenger operations) 4,000,000
Expenses, Philippines (cargo operations) 2,000,000
Expenses, Japan (passenger operations) 4,500,000
Expenses, Japan (cargo operations) 1,250,000
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