Answer:
Corporate bond pay = 10.169%
Explanation:
Given:
Federal tax = 28%
State tax = 9%
Local income tax = 4%
Municipal bond pay = 6% = 0.06
Corporate bond pay = ?
Computation of Corporate bond pay :
Total taxes rate = 28% + 9% + 4%
Total taxes rate = 41% = 0.41
Corporate bond pay = Municipal bond pay / (1-total tax rate)
Corporate bond pay = 0.06 / (1-0.41)
Corporate bond pay = 0.06 / (.59)
Corporate bond pay = 0.10169
Corporate bond pay = 10.169%
Answer: $25000
Explanation:
From the question, we are informed that Betty made a 20% profit on a residential lot she sold for $30,000. Let the cost price of the property be represented by x.
Therefore, (100% + 20%) of x = $30000. This means that 120% of x = $30000.
120% × x = $30000
1.2x = $30000
x = $30000/1.2
x = $25000
Therefore, the amount paid for the property is $25000
Answer:
The Rex’s gross income from the partnership in 2019 and 2020 is $1,20,000 and $1,80,000 respectively
Explanation:
The computation of the gross income for each year is shown below:
In 2019:
Gross income = Taxable income × percentage of interest in profits
= $400,000 × 30%
= $1,20,000
In 2020:
Gross income = Taxable income × percentage of interest in profits
= $600,000 × 30%
= $1,80,000
The withdrawn amount is not consider for computing the gross income. So, we ignored it
Answer:
work experience is the correct answer for PLATO
