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Im not sure what am I entering wrong. help please This year, Mesa Inc.'s before-tax income was $10,439,500. It paid...

Question:

Im not sure what am I entering wrong. help please
This year, Mesa Inc.s before-tax income was $10,439,500. It paid $464,000 income tax to Minnesota and $412,000 income tax to
This year, Mesa Inc.'s before-tax income was $10,439,500. It paid $464,000 income tax to Minnesota and $412,000 income tax to Illinois a. Compute Mesa's federal income tax, b. What is Mesa's tax rate on its income? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Compute Mesa's federal income tax, Federal income * 3,251,590 Required >

Answers

Mesa's tax rate on its income would be 3,400,000+ 35% on over 10,000,000 according to tax rate table.

So Income before tax is 10,439,500

Mesa's federal income tax would be = 3,400,000 + 35% on 439,500 = 3,400,000+153,825 = 3,553,825

.

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