Madison company has taken a position in its tax return to claim a tax credit of $125 million (direct reduction in taxes payable) and has determined that its sustainability is "more likely than not," based on its technical merits. the tax credit would be a direct reduction in current taxes payable. madison believes the likelihood that a $125 million, $75 million, or $25 million tax benefit will be sustained is 25%, 35%, and 40%, respectively. madison's taxable income is $640 million for the year. its effective tax rate is 40%. what is madison's income tax expense for the year?

What are the period and vertical shift of the cosecant function below? period: ; vertical shift: 1 unit up period: ; vertical shift: 2 units up period: ; vertical shift: 1 unit up period: ; vertical shift: 2 units up?

The returns on the common stock of maynard cosmetic specialties are quite cyclical. in a boom economy, the stock is expected to return 22 percent in comparison to 9 percent in a normal economy and a negative 14 percent in a recessionary period. the probability of a recession is 35 percent while the probability of a boom is 10 percent. what is the standard deviation of the returns on this stock?

Xinhong company is considering replacing one of its manufacturing machines. the machine has a book value of $39,000 and a remaining useful life of 5 years, at which time its salvage value will be zero. it has a current market value of $49,000. variable manufacturing costs are $33,300 per year for this machine. information on two alternative replacement machines follows. alternative a alternative b cost $ 115,000 $ 117,000 variable manufacturing costs per year 22,900 10,100 1. calculate the total change in net income if alternative a and b is adopted. 2. should xinhong keep or replace its manufacturing machine