Madison metals recently reported $9,000 of sales, $6,000 of operating costs other than depreciation, and $1,500 of depreciation. the company had no amortization charges and no non-operating income. it had issued $4,000 of bonds that carry a 7% interest rate, and its federal-plus-state income tax rate was 40%. what was the firm's taxable, or pre-tax, income? (10p)
a. $1,180
b. $1,220
c. $1,260
Answers: 3
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Madison metals recently reported $9,000 of sales, $6,000 of operating costs other than depreciation,...
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