How do I enter the following as a Formula in EXCEL: Taxes= 0.15($50,000) + 0.25(

Question

How do I enter the following as a Formula in EXCEL:

Taxes= 0.15($50,000) + 0.25($25,000) + 0.34($25,000) + 0.39($315,000 - $100,000)

Taxable Income is $315,000 (See Tax Table below)

SPREADSHEET INFO (CELL A AND CELL B)

Note: Excel Formula needed for Income Taxes in Cell B.

CELL A                                 CELL B

Income Taxes =                      

CELL A                                                                       CELL B                               CELL C

Income Taxes =                      

Average Tax Rate = 34.00% Marginal Tax Rate = 39% Sales $29,200 Costs $10,400 Depreciation Expense $1,800 EBIT $17,000 Interest Expense $1,050 EBT $15,950 Taxes @ 40% Net Income Tax Rate 40% Operating Cash Flow =

Explanation / Answer

In Formula Bar

Taxes = 0.15*50000 + 0.25*25000 + 0.34*25000 + 0.39*(315000-100000)

Taxes = $ 106100

Note : You may use cell refrencing in formula bar to compute taxes & jus select row & column accordingly

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