Before considering a net operating loss carryforward of $74 million, fama corporation reported $210 million of pretax accounting and taxable income in the current year. the income tax rate for all previous years was 38%. on january 1 of the current year, a new tax law was enacted, reducing the rate to 27% effective immediately. fama's income tax payable for the current year would be: (round your answer to the nearest whole million.)

$108 million.
$37 million.
$39 million.

Anderson, a computer engineer, and spouse, who is unemployed, provide more than half of the support for their child, age 23, who is a full-time student and who earns $7,000. they also provide more than half of the support for their older child, age 33, who earns $2,000 during the year. how many dependents may the andersons claim on their joint tax return?

Why should managers invest any excess cash

Margaret company reported the following information for the current year: net sales $3,000,000 purchases $1,957,000 beginning inventory $245,000 ending inventory $115,000 cost of goods sold 65% of sales industry averages available are: inventory turnover 5.29 gross profit percentage 28% how do the inventory turnover and gross profit percentage for margaret company compare to the industry averages for the same ratios? (round inventory turnover to two decimal places. round gross profit percentage to the nearest percent.)