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Mel Company has a net income, before taxes, of $95,000. The treasurer of the company estimates 45 percent of net income will have to be paid for federal and state taxes. The tax for both federal and state
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Mel Company has a net income, before taxes, of $95,000. The treasurer of the company estimates 45 percent of net income will have to be paid for federal and state taxes. The tax for both federal and state is: ...?

User RichardAE
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Net income before taxes $95,000

Tax for federal and state: 45% * $ 95,000 = 42,750


User Mabounassif
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