Use the following information: Gross profit ₤3,900,000 Loss on sale of investments 10,000 Interest expense 7,500...

Use the following information:

Gross profit	₤3,900,000
Loss on sale of investments	10,000
Interest expense	7,500
Gain on sale of discontinued operations	30,000
Income tax rate	20%

Compute the total amount of income tax expense experienced by the company.

₤782,500

₤800,000

₤1,005,000

₤765,000

Expert Solution

Option A] i.e 782,500 is correct Answer,

Please comment for any explanation,

Thanks,

ekkarill92 answered 3 years ago

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