a. What is taxable income for the first year? I have the formula taxable income = gross income - expenditures - depreciation. however I can't find depreciation value (can't tell if deductibles can be depreciated). From using the formula I got 845,330. b. how much should the company expect to pay in taxes in the first year? There are no state income taxes required.for this I got 245,699 dollars. Please help me verify my answers. thanks Nector is a company that sells bee keeping supplies and connects beekeepers all over the worldto sell, pollinate, and rent bees. Yes, you can rent bees to come pollinate your crops! Thecompany makes $1,000,330 income. They have costs of $132,000 over the last year. Assets thatqualify for $10,000 in deductions, and an extra environmental tax deduction of $13,000. Nectorwill use the use the bracket below to assess their federal income taxes.

Given:Gross income=$1,000,330Expenditure=$132,000Deductions=Qualified asset+Environmental tax…

Answered: a. What is taxable income for the first…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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a. What is taxable income for the first year? I have the formula taxable income = gross income - expenditures - depreciation. however I can't find depreciation value (can't tell if deductibles can be depreciated). From using the formula I got 845,330.

b. how much should the company expect to pay in taxes in the first year? There are
no state income taxes required.

for this I got 245,699 dollars.

Please help me verify my answers. thanks

Nector is a company that sells bee keeping supplies and connects beekeepers all over the world
to sell, pollinate, and rent bees. Yes, you can rent bees to come pollinate your crops! The
company makes $1,000,330 income. They have costs of $132,000 over the last year. Assets that
qualify for $10,000 in deductions, and an extra environmental tax deduction of $13,000. Nector
will use the use the bracket below to assess their federal income taxes.

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