1. Sturgis Corporation is 100,000 shares outstanding. The price per share is $10. The market valuation of Sturgis is
A. $1 million
B. $2 million
C. $3 million
D. None of the above
2. Comstock Company has replacement value assets of 100 and liabilities of 85. The book value of Comstock is
A. 100
B. 85
C. 15
D. Unable to tell from data given
3. Calculate the net income tax payable for an Australian resident individual who does not have any private health insurance but who has taxable income for the 2016/17 income year of:
(a) $8,200
(b) $146,320
(c) $288,764