Toledo Imports, a calendar-year corporation, had the following income before tax expense and estimated effective annual income tax rates for the first three quarters in 20X8: Toledo's income tax expense in its interim income statement for the nine months ended September 30 and for the third quarter, respectively, are:
A) $250,800 and $103,200.
B) $252,000 and $108,000.
C) $252,000 and $103,200.
D) $250,800 and $108,000.

Question

Toledo Imports, a calendar-year corporation, had the following income before tax expense and estimated effective annual income tax rates for the first three quarters in 20X8:  Toledo's income tax expense in its interim income statement for the nine months ended September 30 and for the third quarter, respectively, are:
A) $250,800 and $103,200. 
B) $252,000 and $108,000. 
C) $252,000 and $103,200. 
D) $250,800 and $108,000.

Quizplus · Accepted Answer

The Answer of Toledo Imports, a calendar-year corporation, had the following income before tax expense and estimated effective annual income tax rates for the first three quarters in 20X8:  Toledo's income tax expense in its interim income statement for the nine months ended September 30 and for the third quarter, respectively, are:
A) $250,800 and $103,200. 
B) $252,000 and $108,000. 
C) $252,000 and $103,200. 
D) $250,800 and $108,000.

Toledo Imports, a Calendar-Year Corporation, Had the Following Income Before