Please help me fix c. The ones with x's are incorrect answers. Please help me find the correct answers. Thanks! c. Suppose the government imposes a 25 percent tax on accounting profits. This tax is levied only if a firm is earning positiveaccounting profits. What will your after-tax accounting profit be in the low-revenue case?$ -20000In the high-revenue case?$ 112500What will your average after-tax accounting profit be?$ 46250What will be your average after-tax economic profit?$ -13750 You are currently a worker earning $60,000 per year but are considering becoming an entrepreneur. You will not switch unless youearn an accounting profit that is on average at least as great as your current salary. You look into opening a small grocery store.Suppose that the store has annual costs of $150,000 for labor, $70,000 for rent, and $30,000 for equipment. There is a one-halfprobability that revenues will be $230,000 and a one-half probability that revenues willI be $400,000.Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) infront of those numbers. Enter a loss as a negative number.a. In the low-revenue situation, what will your accounting profit or loss be?$ -20000What will your accounting profit or loss be in the high-revenue situation?$ 150000b. On average, how much do you expect your revenue to be?$ 315000Your accounting profit?$ 65000Your economic profit?$ 5000

The question is based on the concept of Business Accounting.

c. Suppose the government imposes a 25 percent tax on accounting profits. This tax is levied only if a firm is earning positiv accounting profits. What will your after-tax accounting profit be in the low-revenue case? $ -20000 In the high-revenue case? $ 112500 * What will your average after-tax accounting profit be? $ 46250| x What will be your average after-tax economic profit?

c. Suppose the government imposes a 25 percent tax on accounting profits. This tax is levied only if a firm is earning positiv accounting profits. What will your after-tax accounting profit be in the low-revenue case? $ -20000 In the high-revenue case? $ 112500 * What will your average after-tax accounting profit be? $ 46250| x What will be your average after-tax economic profit?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Make sure to calculate the NPV correctly! The previous answer was wrong!
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It says they answers are wrong from your example.