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chubhunter [2.5K]
3 years ago
13

Wanda is the Chief Executive Officer of Pink corporation, a publicly traded, calendar year C corporation. For the current year,

Wanda's compensation package consists of: Cash compensation $ 2,500,000 Nontaxable fringe benefits 250,000 Taxable fringe benefits 150,000 Bonus tied to company performance 2,000,000How much of Wanda's compensation is deductible by Pink Corporation?
Business
1 answer:
Lemur [1.5K]3 years ago
8 0

Answer:

$1,250,000

Explanation:

Given that

Cash compensation = $2,500,000

The computation of Wanda's compensation is deductible is shown below:-

Wanda's compensation is deductible = cash compensation × deductible percentage

= $2,500,000 × 50%

= $1,250,000

Therefore for computing the Wanda's compensation is deductible by Pink corporation we simply multiply the cash compensation with deductible percentage.

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