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Suppose an investment generates an annual sales of $2,360,000, with annual costs of $520,000. Assume a tax rate of 35%. What is the tax to be paid on annual sales?

Suppose an investment generates an annual sales of $2,360,000, with annual costs of $520,000. Assume a tax rate of 35%. What is the tax to be paid on annual sales?
asked 22.5k views
5 votes
Suppose an investment generates an annual sales of $2,360,000, with annual costs of $520,000. Assume a tax rate of 35%. What is the tax to be paid on annual sales?

asked
User Avi Marcus
by
7.8k points

1 Answer

6 votes

Answer:

$644,000

Explanation:

0.35(2,360000-520000)=644000

answered
User Sedat
by
8.4k points
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