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)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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