Assignment 3: Calculating Tax Cost;Microtech Software Corporation (MSC) was founded in 2001. The founder, Chan Li, studied at MIT and worked for a large software corporation before returning to his hometown, Centervale, to set up his own company.;The corporate tax rate structure applicable in Centervale is as follows;Taxable Income Tax Rate;Up to $50,000 15 percent;From $50,001 through $150,000 22 percent;Income in excess of $150,000 30 percent;MSC has an opportunity to invest in a project that is expected to generate an additional $55,000 of taxable income.;Compute the tax cost of this additional income for the following three scenarios;MSC's taxable income before the additional income is $45,000.;MSC's taxable income before the additional income is $300,000.;MSC has a loss of $5,000 before considering the additional income.;Show all the steps of the calculation and the final answer for each scenario. Compare the results for the three scenarios and comment on any differences.;Write a one- to two-page paper in MS Word format. Apply APA standards for writing style to your work.;Use the following file naming convention: LastnameFirstInitial_M1_A3.doc.;By Wednesday, September 10, 2014 deliver your assignment to the M1: Assignment 3 Dropbox.
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