I want to correct answer general accounting question The tax savings from an expense item are $45,000 for a company that spends30% of its income to taxes. How much does the item cost before tax?a) $100,000b) $125,000c) $150,000d) $175,000

Step 1: Definition of Tax SavingsTax savings from an expense item refer to the amount of tax…

Answered: The tax savings from an expense item…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

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Chapter3: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 8MC: A company has wants to earn an income of $60,000 after-taxes. If the tax rate is 32%, what must be...

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Similar questions

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Rhodes Corporations financial statements are shown after part f. Suppose the federal-plus-state tax corporate tax is 25%. Answer the following questions. a. What is the net operating profit after taxes (NOPAT) for 2020? b. What are the amounts of net operating working capital for both years? c. What are the amounts of total net operating capital for both years? d. What is the free cash flow for 2020? e. What is the ROIC for 2020? f. How much of the FCF did Rhodes use for each of the following purposes: after-tax interest, net debt repayments, dividends, net stock repurchases, and net purchases of short-term investments? (Hint: Remember that a net use can be negative.) Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars)
The tax savings from an expense item are $75,000 for a company that spends 25% of its income to taxes. How much does the item cost before tax? a. $250,000 b. $ 200,000 c. $150,000 d. $300,000
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What is the effective tax rate that a company will end up paying if their year income is $16.7 million? The tax needs to be calculated based on the table shown below: From Below Tax + Marginal additional tax $0 $50,000 15% $50,000 $75,000 $7,500 + 25% over $50,000 $75,000 $100,000 $13,750 + 34% over $75,000 $100,000 $335,000 $22,250 + 39% over $100,000 $335,000 $10,000,000 $113,900 + 34% over $335,000 $10,000,000 $15,000,000 $3,400,000 + 35% over $10,000,000 $15,000,000 $18,333,333 $5,150,000 + 38% over $15,000,000 Group of answer choices 27.4483% 34.1007% 34.0000% 34.7066%
General Accounting Question Solution
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The tax savings from an expense item are $45,000 for a company that spends 30% of its income to taxes. How much does the item cost before tax? a) $100,000 b) $125,000 c) $150,000 d) $175,000