Trimeton Corporation announced that in the year ended June 30, 2008, its earnings before taxes amounted to $2,367,045. Calculate its taxes using the following table.
Tax Rate Taxable Income
15% $0 to $50,000
25 50,001 - 75,000
34 75,001 - 100,000
39 100,001 - 335,000
34 335,001 - 10,000,000
35 10,000,001 - 15,000,000
38 15,000,001 - 18,333,333
35 More than $18,333,333
A) $804,795
B) $690,895
C) $713,145
D) none of the above
Answer: A
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