Brothers company recently reported net income of $9 million

Finance Aug 13, 2020

Brothers company recently reported net income of $9 million. and its corporate tax rate was 40%. What was its charge EBT?
Select one:
a. $30 million
b. $15 million
c. $10 million
d. $12 million

Expert Solution

ANSWER IS OPTION b $15 millon

working note

EBT $15000000

Less TAX @ 40% $6000000

NET INCOME $9000000

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