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peroni company paid wages of $170,900 this year. of this amount, $114,000 was taxable for net futa and suta purposes. the state's contribution tax rate is 3.1% for peroni company. due to cash flow problems, the company did not make any suta payments until after the form 940 filing date. compute the following; round your answers to the nearest cent.
a. amount of credit the company would receive against the futa tax for its suta contributions
$
b. amount that peroni company would pay to the federal government for its futa tax
$
c. amount that the company lost because of its late payments
$
a. (taxable wages x suta rate x 90%) + [taxable wages x (5.4% -suta rate)] = total futa tax credit
b. (taxable wages x futa rate) – total futa tax credit (part a above) = net futa tax
c. net futa tax – futa tax without penalty = penalty

The gilbert instrument corporation is considering replacing the wood steamer it currently uses to shape guitar sides. the steamer has 6 years of remaining life. if kept,the steamer will have depreciaiton expenses of $650 for five years and $325 for the sixthyear. its current book value is $3,575, and it can be sold on an internet auction site for$4,150 at this time. if the old steamer is not replaced, it can be sold for $800 at the endof its useful life. gilbert is considering purchasing the side steamer 3000, a higher-end steamer, whichcosts $12,000 and has an estimated useful life of 6 years with an estimated salvage value of$1,500. this steamer falls into the macrs 5-year class, so the applicable depreciationrates are 20.00%, 32.00%, 19.20%, 11.52%, 11.52%, and 5.76%. the new steamer is fasterand allows for an output expansion, so sales would rise by $2,000 per year; the newmachine's much greater efficiency would reduce operating expenses by $1,900 per year.to support the greater sales, the new machine would require that inventories increase by$2,900, but accounts payable would simultaneously increase by $700. gilbert's marginalfederal-plus-state tax rate is 40%, and its wacc is 15%.a. should it replace the old steamer? b. npv of replace = $2,083.51