American corporation has two equal shareholders, mr. freedom and brave inc. in addition to their investments in american stock, both shareholders have made substantial loans to american. during the current year, american paid $180,000 interest each to mr. freedom and brave inc. assume that american and brave have 21 percent tax rates, and mr. freedom’s marginal tax rate on ordinary income is 37 percent. a. calculate american’s tax savings from deduction of these interest payments and their after-tax cost. b. calculate brave’s tax cost and after-tax earnings from its receipt of interest income from american. c. calculate mr. freedom’s tax cost and after-tax earnings from his receipt of interest income from american. d. recalculate brave’s tax cost and after-tax earnings assuming its receipt of interest from american is treated as a constructive dividend. e. recalculate mr. freedom’s tax cost and after-tax earnings assuming his receipt of interest from american is treated as a constructive dividend.
Answers: 1
Business, 22.06.2019 11:00, idontknow1993
Zoe would like to be able to save for night courses at the local college. which of these would be a good way for zoe to make more money available for savings without dramatically changing her budget? economĂa
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Business, 22.06.2019 16:40, adreyan3479
Job 456 was recently completed. the following data have been recorded on its job cost sheet: direct materials $ 2,418 direct labor-hours 74 labor-hours direct labor wage rate $ 13 per labor-hour machine-hours 137 machine-hours the corporation applies manufacturing overhead on the basis of machine-hours. the predetermined overhead rate is $14 per machine-hour. the total cost that would be recorded on the job cost sheet for job 456 would be: multiple choice $3,380 $5,298 $6,138 $2,622
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Business, 22.06.2019 19:30, cyynntthhiiaa4
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