Homework Help is Here – Start Your Trial Now!
Business
Accounting
Chartworth Associates' financial statements indicated that the company had EBITDA of $3,145,903. It had depreciation of $633,000, and its interest rate on debt of $1.25 million was 7.5 percent. Calculate the amount of taxes the company is likely to owe. (Round your final answer to the nearest dollar.) Tax rate Taxable income 15% $0 to $50,000 25 50,001 - 75,000 34 75,001 100,000 39 100,001 335,000 34 335,001 10,000,000 35 10,000,001 15,000,000 38 15,000,001 - 18,333,333 35 More than $18,333,333 a. $1,069,607. b. $1,037,732. c. $822,512. d. None of these.

Chartworth Associates' financial statements indicated that the company had EBITDA of $3,145,903. It had depreciation of $633,000, and its interest rate on debt of $1.25 million was 7.5 percent. Calculate the amount of taxes the company is likely to owe. (Round your final answer to the nearest dollar.) Tax rate Taxable income 15% $0 to $50,000 25 50,001 - 75,000 34 75,001 100,000 39 100,001 335,000 34 335,001 10,000,000 35 10,000,001 15,000,000 38 15,000,001 - 18,333,333 35 More than $18,333,333 a. $1,069,607. b. $1,037,732. c. $822,512. d. None of these.

Intermediate Financial Management (MindTap Course List)
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 3P
See similar textbooks
icon
Related questions
Question

Need answer the accounting question not use ai please don't

Chartworth Associates' financial statements indicated that the company had EBITDA of $3,145,903. It had depreciation of $633,000, and its interest rate on debt of $1.25 million was 7.5 percent. Calculate the amount of taxes the company is likely to owe. (Round your final answer to the nearest dollar.) Tax rate Taxable income 15% $0 to $50,000 25 50,001 - 75,000 34 75,001 100,000 39 100,001 335,000 34 335,001 10,000,000 35 10,000,001 15,000,000 38 15,000,001 - 18,333,333 35 More than $18,333,333 a. $1,069,607. b. $1,037,732. c. $822,512. d. None of these.
Transcribed Image Text:Chartworth Associates' financial statements indicated that the company had EBITDA of $3,145,903. It had depreciation of $633,000, and its interest rate on debt of $1.25 million was 7.5 percent. Calculate the amount of taxes the company is likely to owe. (Round your final answer to the nearest dollar.) Tax rate Taxable income 15% $0 to $50,000 25 50,001 - 75,000 34 75,001 100,000 39 100,001 335,000 34 335,001 10,000,000 35 10,000,001 15,000,000 38 15,000,001 - 18,333,333 35 More than $18,333,333 a. $1,069,607. b. $1,037,732. c. $822,512. d. None of these.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Financial Management (MindTap Course…
Intermediate Financial Management (MindTap Course…
Finance
ISBN:
9781337395083
Author:
Eugene F. Brigham, Phillip R. Daves
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS