Taxable Income Total Tax $1000 $500 $2000 $600 $3000 $700 $4000 $800 $5000 $900 $6000 $1000 Refer to the income tax schedule given in the table. If your taxable income increases from $4,000 to $5,000, you will encounter a marginal tax rate of A. 30% B. 10% C. 18%

Taxable Income Total Tax $1000 $500 $2000 $600 $3000 $700 $4000 $800 $5000 $900 $6000 $1000 Refer to the income tax schedule given in the table. If your taxable income increases from $4,000 to $5,000, you will encounter a marginal tax rate of A. 30% B. 10% C. 18%

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Problem 17.047 A division of Midland Oil & Gas has a taxable income (TI) of $9.65 million for a tax year. If the state tax rate averages 7% for all states in which the corporation operates, find the equivalent after-tax rate of return (ROR) required of projects that are justified only if they can demonstrate a before-tax return of 22% per year. Use the table given below to calculate taxes, the average tax rate Te and after-tax ROR. Over 0 50,000 75,000 100,000 335,000 10,000,000 15,000,000 18,333,333 But Not over 50,000 75,000 100,000 335,000 10,000,000 15,000,000 18,333,333 If Taxable Income ($) Is: The equivalent after-tax ROR is determined to be Tax Is 15% 7,500 + 25% 13,750 + 34% 22,250 + 39% 113,900 + 34% 3,400,000 + 35% 5,150,000+ 38% 35% %. Of the Amount over 0 50,000 75,000 100,000 335,000 10,000,000 15,000,000 0
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