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Ch. 1 Study Questions

by: Brianna Zoschke
Brianna Zoschke


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These are the completed study question notes
Federal Income Taxation
Dr. Yi Ren
Class Notes
25 ?




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This 1 page Class Notes was uploaded by Brianna Zoschke on Monday August 29, 2016. The Class Notes belongs to ACC 233 002 at 1 MDSS-SGSLM-Langley AFB Advanced Education in General Dentistry 12 Months taught by Dr. Yi Ren in Fall 2016. Since its upload, it has received 5 views. For similar materials see Federal Income Taxation in Business at 1 MDSS-SGSLM-Langley AFB Advanced Education in General Dentistry 12 Months.


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Date Created: 08/29/16
Brianna Zoschke UID 866664201 M-W 2-3:15 Ch 1 Study question 1. Melinda invests $100,000 in a City of Bloomington bond that pays 6 percent interest. Alternatively, Melinda could have invested the $100,000 in a bond recently issued by XYZ, Inc. that pays 8 percent interest with similar risk the City of Bloomington bond. Assume Melinda’s marginal tax rate is 28 percent. a. What is her after-tax rate of return for the City of Bloomington bond? $1,680 or .0168 or 1.68% interest b. How much tax does Melinda pay on the City of Bloomington bond? $6000-1680 = $4320 c. How much tax would she have paid on the XYZ, Inc. bond? $8000-2240 = $5760 d. What is her after-tax rate of return on the XYZ, Inc. bond? $2240 or .0224 or 2.24% interest e. which one will you invest? I will invest in the XYZ Inc. 2. Campbell, a single taxpayer, earns $300,000 in taxable income and $2,000 in interest from an investment in State of New York bonds. Using the U.S. tax rate schedule, how much federal tax will she owe? What is her average tax rate? What is her effective tax rate? What is her current marginal tax rate? $46,075.25 + 33% (302,000-189,300) = $83,266.25 federal tax owed Average tax rate: 83,266.25/300,000 = .2776 or 2.78% Effective tax rate: 83,266.25/302,000 = .2757 or 2.76% Marginal tax rate: 33%


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