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mamaluj [8]
3 years ago
15

The Dot Corporation has changed its year-end from a calendar year-end to August 31. The income for its short period from January

1 to August 31 is $54,000. The tax for this short period is________________.
Business
1 answer:
Scilla [17]3 years ago
3 0

Answer:

$10,527

Step by step Explanation:

Ist January to 31 August is 8 months

Therefore;

$54,000 x 12/8 = 81,000

15% x 50,000 = 7,500

25% x 25,000 = 6,250

34% x 6,000 = 2,040

7,500 + 6,250 + 2,040 = 15,790

Short period = 15,790 x 8/12 = $10,526.673.

Therefore The tax for this short period is $10,526.673 approximately $10,527

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Your Aunt Elsa has $500,000 invested at 6.5%, and she plans to retire. She wants to withdraw $40,000 at the beginning of each ye
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