Raptor Corporation Is a PHC for 2009 and Reports $200,000

question 36

Essay

Raptor Corporation is a PHC for 2009 and reports $200,000 of taxable income on its federal income tax return. $\begin{array}{lr}\text { Operating profit } & \$ 100,000 \\\text { Long- term capital gain } & 80,000 \\\text { Dividends (20\%- owned corporation) } & 90,000 \\\text { Interest } & 100,000\\\text { Gross income } & 370,000 \\\text { Salaries expense } & (50,000) \\\text { General and administrative expense } & (25,000) \\\text { Dividends- received deduction } & (58,500)\\\text { Taxable income } & \$ 236,500 \\\text { Regular tax liability } & \$ 49,665\end{array}$ What is Raptor's PHC tax, assuming that it does not pay any dividends?

---

Definitions:

Conservative Estimates

Predictions or calculations that are deliberately cautious or understated, often to ensure that outcomes will meet or exceed expectations.

Strengths

Aspects of an entity, be it an individual, team, project, or system, that represent positive attributes or competitive advantages.

Limitations

Constraints or restrictions that affect the scope, validity, or generalizability of research findings.

Standard Deviation

A measure of the amount of variation or dispersion in a set of values, indicating how much the numbers in the dataset deviate from the mean average.