Cass corporation reported pretax book income of $10,000,000. during the current year, the reserve for bad debts increased by $100,000. in addition, tax depreciation exceeded book depreciation by $200,000. cass corporation sold a fixed asset and reported book gain of $50,000 and tax gain of $75,000. finally, the company received $250,000 of tax-exempt life insurance proceeds from the death of one of its officers.  compute the company’s current income tax expense or benefit.

What does the consumer price index measure? a. the change in prices of all goods and services over time b. the change in prices of specific goods and services over time c. the change in prices of final goods and services over time

Problem 9-5. net present value and taxes [lo 1, 2] penguin productions is evaluating a film project. the president of penguin estimates that the film will cost $20,000,000 to produce. in its first year, the film is expected to generate $16,500,000 in net revenue, after which the film will be released to video. video is expected to generate $10,000,000 in net revenue in its first year, $2,500,000 in its second year, and $1,000,000 in its third year. for tax purposes, amortization of the cost of the film will be $12,000,000 in year 1 and $8,000,000 in year 2. the company’s tax rate is 35 percent, and the company requires a 12 percent rate of return on its films. required what is the net present value of the film project? to simplify, assume that all outlays to produce the film occur at time 0. should the company produce the film?

jackie's snacks sells fudge, caramels, and popcorn. it sold 12,000 units last year. popcorn outsold fudge by a margin of 2 to 1. sales of caramels were the same as sales of popcorn. fixed costs for jackie's snacks are $14,000. additional information follows: product unit sales prices unit variable cost fudge $5.00 $4.00 caramels $8.00 $5.00 popcorn $6.00 $4.50 the breakeven sales volume in units for jackie's snacks is