(SOLVED) This year Fig Corporation made a 100 000

contribution to charity
This year, Fig Corporation made a $100,000 contribution to charity. In each of the following
situations, compute the after-tax cost of this contribution assuming that Fig uses a 6 percent
discount rate to compute NPV. a. Fig had $8 million taxable income before consideration of the
contribution. b. Fig had […]

This year, GHJ Inc. received the following dividends: BP Inc. (a taxable California corporation in
which GHJ holds a 2% stock interest) ……………….. $17,300 MN Inc. (a taxable Florida corporation in
which GHJ holds a 52% stock interest) ……………….. 80,800 AB Inc. (a taxable French corporation in
which GHJ holds […]

This year, Napa Corporation received the following dividends: KLP Inc. (a taxable Delaware
corporation in which Napa holds an 8% stock interest) ……………… $ 55,000 Gamma Inc. (a taxable
Florida corporation in which Napa holds a 90% stock interest) ………………. 120,000 Napa and
Gamma do not file a consolidated tax […]

Corporation P owns 93 percent of the outstanding stock of Corporation T. This year, the
corporations’ records provide the following information: a. Compute each corporation’s taxable
income if they file separate tax returns. b. Compute consolidated taxable income if Corporation
P and Corporation T file a consolidated tax return.

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Griffin Corporation received $50,000 of dividend income from Eagle, Inc. Griffin owns 5 percent
of the outstanding stock of Eagle. Griffin’s marginal tax rate is 35 percent. a. Calculate Griffin’s
allowable dividends-received deduction and its after-tax cash flow as a result of the dividend
from Eagle. b. How would your […]

James, who is in the 35 percent marginal tax bracket, owns 100 percent of the stock of JJ Inc.
This year, JJ generates $500,000 taxable income and pays a $100,000 dividend to James.
Compute his tax on the dividend under each of the following assumptions: a. The federal tax
rules […]

Hall Corporation was formed in 2011 and was exempt from AMT for that year. For 2012 through
2014, its regular tax and tentative minimum tax were as follows: a. Compute Hall’s tax for 2012,
2013, and 2014. b. Compute Hall’s tax for 2015 if its regular taxable income is $9 […]

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