Se the tax schedule in table 23 to calculate dakotas income


The Dakota Corporation had a 2015 taxable income of $30,000,000 from operations after all operating costs but before (1) interest charges of $9,000,000; (2) dividends received of $830,000; (3) dividends paid of $5,650,000; and (4) income taxes. a. Use the tax schedule in Table 2.3 to calculate Dakota’s income tax liability. (Round your answer to the nearest dollar amount.) Income tax liability $ 7437150 b. What are Dakota’s average and marginal tax rates on taxable income? (Round your answers to the nearest whole percent.) Average tax rate 35 % Marginal tax rate %

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Financial Management: Se the tax schedule in table 23 to calculate dakotas income
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