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asambeis [7]
3 years ago
15

Fleming Company has the following cumulative taxable temporary differences: 12/31/18 12/31/17 $1,600,000 $2,250,000 The tax rate

enacted for 2018 is 40%, while the tax rate enacted for future years is 30%. Taxable income for 2018 is $4,000,000 and there are no permanent differences. Fleming's pretax financial income for 2018 is:
Business
1 answer:
jeyben [28]3 years ago
7 0

Answer:

Pretax financial income is $3,350,000.00

Explanation:

Fleming's pretax financial income is the taxable income for 2018 plus the increase in cumulative taxable temporary difference in 2018.

Taxable income is $4,000,000

Difference in cumulative  taxable difference=$1,600,000-$2,250,000

                                                                        =-$650,000

pretax  financial income=$4,000,000+(-$650,000)

                                                    =$4,000,000-$650,000

                                                    =$ 3,350,000.00  

The pretax financial income for year 2018 is  $3,350,000.00  

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DENIUS [597]

Answer:

The correct answer to the following question will be "4 to 5".  

Explanation:

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8 0
3 years ago
Lang Warehouses borrowed $196,401 from a bank and signed a note requiring 7 annual payments of $33,942 beginning one year from t
Snezhnost [94]

Answer:

5%

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Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested

IRR can be calculated with a financial calculator  

The interest rate implicit in the agreement can be determined by finding the internal rate of return.

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To find the IRR using a financial calculator:

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2. After inputting all the cash flows, press the IRR button and then press the compute button.  

5 0
3 years ago
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5 0
2 years ago
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A new aerated sewage lagoon is required in a small town. Earlier this year, one was built on a similar site in an adjacent city
zysi [14]

Answer:

value of new lagoon will be $4.05 million

Explanation:

We have given cost = $2.3 million

It is given that new lagoon will be 65% larger

So size of lagoon will be 1+0.65 =1.65

Sizing exponent for this project is given 1.13

So x = 1.13

New lagoon is given by New\ lagoon=cost\times size^x

So new lagoon will be equal to =2.3\times 1.65^{1.13}=2.3\times 1.76=4.05 $ million

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