Explain the difference between the amount you calculated

Reference no: EM13336209

Use the following tax rates to work the problem and assume the business has taxable income of $150,000.
Taxable Income Tax Rate
$ 0 - 50,000 15%
50,001 - 75,000 25%
75,001 - 100,000 34%
100,001 - 335,000 39%
12.

How much tax will this company pay based on the information above.
Carry your answer 2 decimal places and round up. Do not include commas and dollar signs in your answer. $24,569.776 would be entered as 24569.78.

13.What is the average tax rate paid by the the taxpayer?

Carry the decimal two places and round. 24.877 % would be entered as 24.88

14.What is the "Marginal Tax Rate" for this taxpayer at this level of income?

Your answer should have no decimal points. 34% would be entered as 34

15.At this marginal tax rate, how much additional tax will this taxpayer pay on an additional $10,000 of taxable income?

Your answer should have no decimal points. Do not enter commas or $ signs. $3,000 would be entered as 3000

Essay 3
You need to obtain the 2012 Financial Statements for Gorman Rupp to answer this Essay. I have provided a PDF file of the 2012 Gorman Rupp Annual Report in the Week 6 Folder for your convenience.
16.How many common shares of stock does Gorman Rupp have outstanding on December 31st, 2012 (After deducting treasury shares)?

Do not enter commas.

17.If the market price per share was $29.83 on December 31st 2012, how much is the total value of Gorman Rupp on December 31st?

You do not need decimal points. Round to the nearest whole number. Do not use commas or dollar signs. $1,234,567,899.03 would be entered as 1234567899

18.What is the Total Equity amount for Gorman Rupp at 12-31-2012?

You will not have decimal points. Do not use commas or dollar signs.

19.Explain the difference between the amount you calculated for the Company's fair market value and the Total Equity (Book Value). What does it represent?

Reference no: EM13336209

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