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Last year, your company had sales of $3,909,755, cost of goods sold of $2,322,288 and operating expenses amounting to $857,382. The firm had $116,105 in depreciation expense. In addition, the firm had $625,000 in 8% coupon bonds, received $30,000 in dividend income, and sold property for $10,000 capital loss. What was the firm's tax payment?

Last year, your company had sales of $3,909,755, cost of goods sold of $2,322,288 and operating expenses amounting to $857,382. The firm had $116,105 in depreciation expense. In addition, the firm had $625,000 in 8% coupon bonds, received $30,000 in dividend income, and sold property for $10,000 capital loss. What was the firm's tax payment?

Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter6: Accounting For Financial Management
Section: Chapter Questions
Problem 10P: The Moore Corporation has operating income (EBIT) of 750,000. The companys depreciation expense is...
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Last year, your company had sales of $3,909,755, cost of goods sold of $2,322,288 and operating expenses amounting to $857,382. The firm had $116,105 in depreciation expense. In addition, the firm had $625,000 in 8% coupon bonds, received $30,000 in dividend income, and sold property for $10,000 capital loss. What was the firm's tax payment?

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