mmazenus
Aug 1, 2010, 11:29 AM
Your corporation had the following cash flows last year:
Operating income $2,500,000
Interest received 100,000
Interest paid 450,000
Dividends received 200,000
Dividends paid 500,000
Your firms pays taxes at a rate of 40% (federal and state combined) and was profitable last year. Calculate the firm's corporate tax liability for last year.
Operating income $2,500,000
Interest received 100,000
Interest paid 450,000
Dividends received 200,000
Dividends paid 500,000
Your firms pays taxes at a rate of 40% (federal and state combined) and was profitable last year. Calculate the firm's corporate tax liability for last year.