Bright Bulbs Inc. sold its LED division resulting in a gain of $80,000. Assuming a tax rate of 30%, the gain on this disposal will be reported on the income statement at what amount? A) $56,000 B) $104,000 C) $80,000 D) $24,000

Bright Bulbs Inc. sold its LED division resulting in a gain of $80,000. Assuming a tax rate of 30%, the gain on this disposal will be reported on the income statement at what amount? A) $56,000 B) $104,000 C) $80,000 D) $24,000

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 4P: Talbot Enterprises recently reported an EBITDA of $8 million and net income of $2.4 million. It had...

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Question

Provide Amount from Option

Bright Bulbs Inc. sold its LED division resulting
in a gain of $80,000. Assuming a tax rate of
30%, the gain on this disposal will be reported
on the income statement at what amount?
A) $56,000
B) $104,000
C) $80,000
D) $24,000

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