Connect orted from IE ported From Fire Domain Manager . DoeapDomancom lems Help

Question

Connect orted from IE ported From Fire Domain Manager . DoeapDomancom lems Help Save & Ext Check Required information Problem 9-52 (LO 9-1, LO 9-2) The following information applies to the questions displayed below Christopher is a cash-method, calendar year taxpayer, and he made the following cash payments related to his business this year. Calculate the after-tax cost of each payment assuming he has a 30 percent marginal tax rate. (Do not round intermediate calculations and round your final answer to the nearest dollar amount.) Problem 9-52 Part-c c. $1,095 for office supplies in May of this year. He used half of the supplies this year and he will use the remaining half by February of next year. INS 5 8 SPACE

Explanation / Answer

Calculation of After Tax Cost :-

Office Supplies = $1095

Tax = 30%

Cost After Tax = $1095 * (1 - 0.30)

Cost After Tax = $766.5

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