Joe just received a $2,000 commission check from his employer on the 21st of December, bringing his total income up to $49,000 for the year. His marginal tax rate for federal income tax is 35%. His state income tax is 4% and the local income tax is 1%. The FICA tax rate is 8%. How much of the commission will Joe have left over to spend on Christmas presents. That is, how much of that commission does he get to keep? Assume that commissions are taxed as ordinary income and subject to the marginal tax rates. (No dollar signs, commas or decimals)

Sauer food company has decided to buy a new computer system with an expected life of three years. the cost is $440,000. the company can borrow $440,000 for three years at 14 percent annual interest or for one year at 12 percent annual interest. assume interest is paid in full at the end of each year. a. how much would sauer food company save in interest over the three-year life of the computer system if the one-year loan is utilized and the loan is rolled over (reborrowed) each year at the same 12 percent rate? compare this to the 14 percent three-year loan.