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williams5847
williams5847
14.01.2021 • 
Mathematics

Concrete Works manufactures and sells cement trucks. For the previous year, their taxable income was $7,870,033.20. They have to pay a federal tax rate of 35%, a state tax rate of 8%, and a local tax rate of 1%. As part of their loan package for the business, the company has to pay $3,200,000.00 after the taxes are paid each year to go against the principal amount of the loan. The profit after taxes and principal reduction can be determined by the equation where x is their taxable income. How much profit does the company have after paying taxes and reducing the principal on the loan? A. $4,407,218.59 B. $4,659,217.06 C. $1,459,217.06 D. $1,207,218.59


Concrete Works manufactures and sells cement trucks. For the previous year, their taxable income wa

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