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Practical Financial Management - CHAPTER 2 Inky Inc reported the following financial information in 2009-ANSWER KEY (INSTANT DOWNLOAD)

Practical Financial Management - CHAPTER 2 Inky Inc reported the following financial information in 2009-ANSWER KEY (INSTANT DOWNLOAD)
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Solution Guide / Answer Key:

 

Practical Financial Management by Lasher

Chapter 2 Financial Background: A Review of Accounting, Financial Statements and Taxes

2-29 Inky Inc. reported the following financial information in 2009.

Operating income (EBIT) $650,000

Interest $430,000

Dividends from Printers, Inc. not included in operating income

(Inky owns 3% of Printers) $20,000

Dividends paid to Inky’s stockholders $50,000

1. What is Inky’s tax liability?

2. What is Inky’s marginal tax rate?

3. What is Inky’s average tax rate?

4. Explain why only one of the rates in b and c is relevant for financial decisions?

 

FILE: MS WORD

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