Economics I know the answers are 21% 21% and $18,784,100 i just need to know how to get there. Month Property is Placed in Service Year n 4. 10 11 12 3.485 3.182 2.879 2.576 2.273 1.970 1.667 1.364 1.061 0.758 0.455 0.152 2-9 3.636 3.636 3.836 3.636 3.636 3.636 3.636 3.636 3636 3.636 3.636 3.636 10 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 6. Lynn Construction Company had a gross income of $34,000,000 in tax-year 1, $5.000,000 in salanes. $4,000.000 in wages, $1.000,000 in deprecation expenses, a loan principal payment of $200,000, and a loan interest payment of $210.000. The corporate tax rate is 21% (a) What is the marginal tax rate for Lynn Construction in tax-year 17 The marginal tax rate in tax year 1 is . (Round to the nearest whole number.) (b) What is the average tax rate in tax-year 17 The average tax rate in tax yeaor 1 is %. (Round to the nearest whole number.) (c) Determine the net income of the company in tax-year 1. The net income of the company in tax-year1 is $ (Round to the nearest dollar)
Economics I know the answers are 21% 21% and $18,784,100 i just need to know how to get there. Month Property is Placed in Service Year n 4. 10 11 12 3.485 3.182 2.879 2.576 2.273 1.970 1.667 1.364 1.061 0.758 0.455 0.152 2-9 3.636 3.636 3.836 3.636 3.636 3.636 3.636 3.636 3636 3.636 3.636 3.636 10 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 6. Lynn Construction Company had a gross income of $34,000,000 in tax-year 1, $5.000,000 in salanes. $4,000.000 in wages, $1.000,000 in deprecation expenses, a loan principal payment of $200,000, and a loan interest payment of $210.000. The corporate tax rate is 21% (a) What is the marginal tax rate for Lynn Construction in tax-year 17 The marginal tax rate in tax year 1 is . (Round to the nearest whole number.) (b) What is the average tax rate in tax-year 17 The average tax rate in tax yeaor 1 is %. (Round to the nearest whole number.) (c) Determine the net income of the company in tax-year 1. The net income of the company in tax-year1 is $ (Round to the nearest dollar)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Economics
I know the answers are 21% 21% and
$18,784,100 i just need to know how to get
there.
Month Property is Placed in Service
Year n
3
4
7.
10
11
12
3.485
3.182
2.879
2.576
2.273
1.970
0.455 0.152
1.667
1.364
1.061
0.758
2-9
3.636
3.636
3.636
3.636
3.636
3.636
3.636
3.636 3.636
3.636 3.636
3.636
10
3.637
3.637
3.637
3.637
3.637
3.637
3.636
3.636
3.636
3.636
3.636
3.636
G. Lynn Construction Company had a gross income of $34.000,000 in taxyear 1, $5.000,000 in satanes. $4,000.000 in wages, $1.000,000 in deprecation expenses, a loan
principal payment of $200,000, and a loan interest payment of $210.000. The corporate tax rate is 21%
(a) What is the.marginal tax rate for Lynn Construction in tax-year 17
The marginal tax rate in tax year 1 is
. (Round to the nearest whole number.)
(b) What is the average tax rate in tax-year 17
The average tax rate in tax yeor 1 is
%. (Round to the nearest whole number.)
(c) Determine the net income of the company in tax-year 1.
The net income of the company in tax-year 1 is $
(Round to the nearest dollar.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1e3e3d64-a865-49ca-9774-e8dad572dda9%2Fbd2e1c80-b4d8-4095-bf42-f07cb60c5c61%2F8vbfeo_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Economics
I know the answers are 21% 21% and
$18,784,100 i just need to know how to get
there.
Month Property is Placed in Service
Year n
3
4
7.
10
11
12
3.485
3.182
2.879
2.576
2.273
1.970
0.455 0.152
1.667
1.364
1.061
0.758
2-9
3.636
3.636
3.636
3.636
3.636
3.636
3.636
3.636 3.636
3.636 3.636
3.636
10
3.637
3.637
3.637
3.637
3.637
3.637
3.636
3.636
3.636
3.636
3.636
3.636
G. Lynn Construction Company had a gross income of $34.000,000 in taxyear 1, $5.000,000 in satanes. $4,000.000 in wages, $1.000,000 in deprecation expenses, a loan
principal payment of $200,000, and a loan interest payment of $210.000. The corporate tax rate is 21%
(a) What is the.marginal tax rate for Lynn Construction in tax-year 17
The marginal tax rate in tax year 1 is
. (Round to the nearest whole number.)
(b) What is the average tax rate in tax-year 17
The average tax rate in tax yeor 1 is
%. (Round to the nearest whole number.)
(c) Determine the net income of the company in tax-year 1.
The net income of the company in tax-year 1 is $
(Round to the nearest dollar.)
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