Last year, your firm had $30 million in sales, $7 million in cash operating expenses, and $1 million in depreciation. Costs of goods sold for the year amounted to $12 million. The firm has $8 million in bonds with a 6% interest rate. Your firm received $50,000 in dividend income. The firm sold property for a $60,000 capital gain, and sold other long-term assets for an $80,000 capital loss. What was your firm’s tax payment for the year?

Garfield corporation is considering building a new plant in canada. it predicts sales at the new plant to be 50,000 units at $5.00/unit. below is a listing of estimated expenses. category total annual expenses % of annual expense that are fixed materials $50,000 10% labor $90,000 20% overhead $40,000 30% marketing/admin $20,000 50% a canadian firm was contracted to sell the product and will receive a commission of 10% of the sales price. no u.s. home office expenses will be allocated to the new facility. the contribution margin ratio for garfield corporation is