The Dyrdek Co. had $309,000 in 2014 taxable income. Use the tax rates from Table 2.3.

The Dyrdek Co. had $309,000 in 2014 taxable income. Use the tax rates from Table 2.3.

Calculate the company’s 2014 income taxes. (Do not round intermediate calculations.)

Taxes

$

 

Explanation:

Taxes = .15($50,000) + .25($25,000) + .34($25,000) + .39($309,000 – 100,000)

Taxes = $103,760