Business, 08.02.2020 03:40 williamabigan
Song earns $110,000 taxable income as an interior designer and is taxed at an average rate of 20 percent (i. e., $22,000 of tax). answer the questions below assuming that congress increases the income tax rate such that song's average tax rate increases from 20 percent to 25 percent. what will happen to the government’s tax revenues if song chooses to spend more time pursuing her other passions besides work in response to the tax rate change and therefore earns only $82,500 in taxable income?
Answers: 1
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Laws corporation is considering the purchase of a machine costing $16,000. estimated cash savings from using the new machine are $4,120 per year. the machine will have no salvage value at the end of its useful life of six years and the required rate of return for laws corporation is 12%. the machine's internal rate of return is closest to (ignore income taxes) (a) 12% (b) 14% (c) 16% (d) 18%
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Song earns $110,000 taxable income as an interior designer and is taxed at an average rate of 20 per...
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