Compute total tax they would pay as married filing jointly

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Reference no: EM132209260

Problems -

Problem 1 - For the year 2017, John Adams has a $80,000 adjusted gross income from Apple Corp and allowable itemized deduction of $7,000. Mary Eve has an $85,000 adjusted gross income and $3,000 of allowable itemized deductions. Compute the total tax they would pay as married filing jointly.

Problem 2 - A general contractor is interested in buying new construction equipment for grading with a purchase price of $159,000. The equipment will last for 5 years with a salvage price of $22,000. The annual savings (benefit) that the contractor gains is $31,240. Consider the total tax as 36%, determine the rate of return.

Problem 3 - A general contractor is interested in buying new construction equipment for grading with a purchase price of $139,000 without a salvage price. The annual gain is $31,000 with an arithmetic increase of $2,000 starting the 2nd year. Determine the most economical equipment life to minimize the EUAC.

Reference no: EM132209260

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