What was the firm's net income if the firm paid income taxes of $2,000 and the average tax rate was 25%,O A. $1,000B. $6,000O c. $8000O D. $7,000

Tax rate – 25% Tax paid – 2000 Net income - ? Tax = income before tax* tax rate

Answered: What was the firm's net income if the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter3: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 8MC: A company has wants to earn an income of $60,000 after-taxes. If the tax rate is 32%, what must be...

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What was the firm's net income if the firm paid income taxes of $2,000 and the average tax rate was 25%, O A. $1,000 B. $6,000 c. $8000 D. $7,000