Answer:
$29,750
Step-by-step explanation:
We have been given the income before tax: $150,000
And taxable income: $65,000
So, the income tax would be : $150,000-$65,000=$85000
So, 35% of $85000 is
On simplification we get: $29,750
Hence, the income tax expense will be $29,750
Answer:
$1.6
Step-by-step explanation:
The price of $2.32 already includes the 45% mark up hence taking the original cost to be x, it means the cost of $2.32 is 145% of the original cost
Using the concept of cross multiplication we say that if
1.45 is equivalent to $2.32
1 is equivalent to x
Therefore, the company incurs $1.6 for each plug