During one year a business had gross income of $3.2 million, operating expenses of $2.7 million excluding interest on loans, depreciation of $0.2 million, and no natural resource depletion. The company had one loan outstanding during the year. During the year, four quarterly payments of $55,000 ($40,000 of principal + $15,000 of interest) were made on the loan. What is the company's taxable income for the year? Group of answer choices $240,000 $245,000 $285,000 $300,000

A firm has the opportunity to invest in a project having an initial outlay of $20,000. Net cash inflows (before depreciation and taxes) are expected to be $5,000 per year for five years. The firm uses the straight-line depreciation method with a zero salvage value and has a (marginal) income tax rate of 40 percent. The firms cost of capital is 12 percent. Compute the IRR and the NPV. Should the firm accept or reject the project?

Special interests do not oppose regulations in all cases. The Marketplace Fairness Act of 2013 would require online merchants to collect sales taxes from their customers in other states. Why might a large online retailer like Amazon.com support such a measure?

What is a capital gain?

What is the difference between a private company and a public company?

What are the main categories of U.S. federal government taxes?

Federal excise taxes on gasoline vary widely across the developed world. The United States has the lowest taxes at USD $0.40 per gallon (or £0.07 per liter), Canada has taxes of $0.60 per gallon, Japan and much of Europe is $2.00 per gallon, while Britain has the highest tax at $2.83 a gallon or £0.5 per liter. If gasoline taxes are intended to reduce the time losses from road congestion in urban environments and gasoline pre-tax costs about £0.40 per liter, why might the optimal tax in Canada be 50 percent higher than in the United States? What would be an explanation for why adjacent countries would have such different estimates of the price elasticity of demand for auto driving?16

Is it inevitable that government must become involved in supporting investments in new technology?

How do the shareholders who own a company choose the actual company managers?

If an individual owns a corporation for which he is the only employee, which different types of federal tax will he have to pay?