Mel company has a net income, before taxes, of $95,000. the treasurer of the company estimates 45% of net income will have to be paid for federal and state taxes. the tax for both federal and state is:

The tax will be $42,750.

Step-by-step explanation:

Mel Company has a net income, before taxes, of $95,000.

The treasurer of the company estimates 45% of net income will have to be paid for federal and state taxes.

So, the tax for both federal and state is:

dollars

Therefore, the tax will be $42,750.

597

step-by-step explanation: