Do fast answer of this question solution general accounting Sea Harbor, Inc. has a marginal tax rate of 35 percent andan average tax rate of 22 percent. If the firmearns $79,500 in taxable income, how much will it owe intaxes?a. $10,335.b. $16,695.c. $17,490.d. $27,030.e. $27,825.

Step 1: Introduction to tax liabilityTax liability refers to the obligation of a taxpayer towards…

Answered: Sea Harbor, Inc. has a marginal tax…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section2.A: Taxes

Problem 3P

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(Corporate income tax) Boisjoly Productions had taxable income of $19.9 million. a. Calculate Boisjoly's federal income taxes by using the corporate tax rate structure in the popup window, b. Now calculate Boisjoly's average and marginal tax rates. c. What would Boisjoly's federal income taxes be if its taxable income was $29.3 million? d. Now calculate Boisjoly's average and marginal tax rates with taxable income of $29.3 million. a. Calculate Boisjoly's federal income taxes. The total tax due is $. (Round to the nearest dollar.)
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Sea Harbor, Inc. has a marginal tax rate of 35 percent and an average tax rate of 22 percent. If the firm earns $79,500 in taxable income, how much will it owe in taxes? a. $10,335. b. $16,695. c. $17,490. d. $27,030. e. $27,825.