Elgin battery manufacturers had sales of 900000 in 2006 and


Elgin Battery Manufacturers had sales of $900,000 in 2006 and their cost of goods sold represented 65 percent of sales. Selling and administrative expenses were 9 percent of sales. Depreciation expense was $10,000 and interest expense for the year was $8,000. The firm's tax rate is 30 percent. What is the dollar amount of taxes paid?

a. $151,200

b. $145,800

c. More than $151,800

d. None of the above

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Financial Management: Elgin battery manufacturers had sales of 900000 in 2006 and
Reference No:- TGS01421658

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