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How much is the bonus for artifact man made object co

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Reference no: EM132809822

Problem 1: ARTIFACT MAN MADE OBJECT Co. provides an incentive compensation plan under which its president receives a bonus equal to 10% of ARTIFACT's profit before tax but after deduction of the bonus. ARTIFACT's profit after tax and after bonus for the year is ?2,545,456. Income tax rate is 30%. How much is the bonus?

a. 245,798

b. 261,684

c. 363,636

d. 288,660

Reference no: EM132809822

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