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Homework answers / question archive / Use Exhibit 24
Use Exhibit 24.1 to compute Balboa Corporation's State F taxable income for the year.
| Addition modifications | $29,000 |
| Allocated income (total) | 25,000 |
| Allocated income (State F) | 3,000 |
| Allocated income (State G) | 22,000 |
| Apportionment percentage | 40% |
| Credits | 800 |
| Federal taxable income | 90,000 |
| Subtraction modifications | 15,000 |
| Tax rate | 5% |
