Accounting Problem A BUSINESS HAS PRE-TAX INCOME OF $100,000 ANDPAYS $25,000 IN TAXES. WHAT IS THE EFFECTIVE TAXRATE?

Explanation of Pre-tax Income: Pre-tax income, also known as earnings before tax (EBT), represents a…

Answered: A BUSINESS HAS PRE-TAX INCOME OF…

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter15: Choice Of Business Entity—other Considerations

Section: Chapter Questions

Problem 72P

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A company has wants to earn an income of $60,000 after-taxes. If the tax rate is 32%, what must be the companys pre-tax income in order to have $60,000 after-taxes? A. $88,235 B. $19,200 C. $79,200 D. $143,000
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A BUSINESS HAS PRE-TAX INCOME OF $100,000 AND PAYS $25,000 IN TAXES. WHAT IS THE EFFECTIVE TAX RATE?