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Mel Company has a net income, before taxes, of $95,000. The treasurer of the company estimates 45% of net income will have to be paid for federal and state taxes. The tax for both federal and state is:

Answer :

jorel1380
95,000 x .45=$42,750 for both federal and state tax..
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Answer:

The tax will be $42,750.

Step-by-step explanation:

Mel Company has a net income, before taxes, of $95,000.

The treasurer of the company estimates 45% of net income will have to be paid for federal and state taxes.

So, the tax for both federal and state is:

[tex]0.45\times95000=42750[/tex] dollars

Therefore, the tax will be $42,750.

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