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A German Toy Corporation was formed to produce plastic toy soccer balls. The firm bought land for $250,000 had a $500,000 factory building erected, and installed special plastic manufacturing tools for $20,000. The plant was completed and operations begun on August 1st. The gross income for the calendar year was $150,000. Supplies and all operating expenses, excluding the capital expenditures, were $35,000. The firm will use the modified accelerated cost recovery system (MACRS) depreciation.
a) What is the first year depreciation charge?
b) What is the first year taxable income?
c) How much will the corporation pay in federal income taxes for the year if the marginal tax rate is 34%?
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research information on this company that have engaged in monopoly behavior of microsoft and explain how society has
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