In tax year 1 an electronics packaging firm had a gross

Last updated: 2/11/2024

In tax year 1 an electronics packaging firm had a gross income of 32 000 000 8 000 000 in salaries 7 000 000 in wages 1 100 000 in depreciation expenses a loan principal payment of 250 000 and a loan interest payment 200 000 Determine the net income of the company in tax year 1 The corporate tax rate is 21 The net income of the company in tax year 1 is Round to the nearest dollar