In each of the following cases, compute the corporation's regular tax, average tax rate and marginal tax rate: Use 2017 tax rate schedule if needed. Required: a. Silva Corporation has $180,000 taxable income for its tax year ended December 31, 2017. b. Goyal Corporation has $180,000 taxable income for its tax year ended December 31, 2018. c. Carver Corporation has $180,000 taxable income for its tax year ended October 31, 2018. Note: For all requirements, Do not round intermediate calculations. Round your final answer to nearest whole dollar amount and average tax rate answer to 2 decimal places. Corporation's Regular Tax Corporation's Average Tax Rate Corporation's Marginal Tax Rate a. $ 52,000 % 39 % b. C. % 21 % % 21 %
In each of the following cases, compute the corporation's regular tax, average tax rate and marginal tax rate: Use 2017 tax rate schedule if needed. Required: a. Silva Corporation has $180,000 taxable income for its tax year ended December 31, 2017. b. Goyal Corporation has $180,000 taxable income for its tax year ended December 31, 2018. c. Carver Corporation has $180,000 taxable income for its tax year ended October 31, 2018. Note: For all requirements, Do not round intermediate calculations. Round your final answer to nearest whole dollar amount and average tax rate answer to 2 decimal places. Corporation's Regular Tax Corporation's Average Tax Rate Corporation's Marginal Tax Rate a. $ 52,000 % 39 % b. C. % 21 % % 21 %
Chapter7: Losses—deductions And Limitations
Section: Chapter Questions
Problem 70IIP
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Transcribed Image Text:In each of the following cases, compute the corporation's regular tax, average tax rate and marginal tax rate: Use 2017 tax rate
schedule if needed.
Required:
a. Silva Corporation has $180,000 taxable income for its tax year ended December 31, 2017.
b. Goyal Corporation has $180,000 taxable income for its tax year ended December 31, 2018.
c. Carver Corporation has $180,000 taxable income for its tax year ended October 31, 2018.
Note: For all requirements, Do not round intermediate calculations. Round your final answer to nearest whole dollar amount and
average tax rate answer to 2 decimal places.
Corporation's
Regular Tax
Corporation's
Average Tax
Rate
Corporation's
Marginal Tax
Rate
a.
$
52,000
%
39 %
b.
C.
%
21 %
%
21 %
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