Last year the sales at Summit Company were $460,000 and were all cash sales. The

Question

Last year the sales at Summit Company were $460,000 and were all cash sales. The expenses at Summit were $250,000 and were all cash expenses.

Last year the sales at Summit Company were $460,000 and were all cash sales. The expenses at Summit were $250,000 and were all cash expenses.

Click here to view Exhibit 13B-1 and Exhibit 13B-2 to determine the appropriate discount factor(s) using tables. The tax rate was 34%. The after-tax net cash inflow at Summit last year was: (Round discount factor(s) to 3 decimal places and your final answer to the nearest whole number.) Last year the sales at Summit Company were $460,000 and were all cash sales. The expenses at Summit were $250,000 and were all cash expenses. Click here to view Exhibit 13B-1 and Exhibit 13B-2 to determine the appropriate discount factor(s) using tables. The tax rate was 34%. The after-tax net cash inflow at Summit last year was: (Round discount factor(s) to 3 decimal places and your final answer to the nearest whole number.)

Explanation / Answer

after-tax net cash inflow at Summit last year was =(460,000-250,000 )*(1-34%) =

$138,600

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