In 2019, X Company's profit function was 0.38R - $88,600, where R is revenue. In 2020,...
In 2019, X Company's profit function was 0.38R - $88,600, where R is revenue. In 2020, the relationship between revenue and variable costs will not change, but fixed costs will decrease by $19,492. Assuming a tax rate of 35%, what will revenue have to be in order for X Company to earn $39,700 after taxes in 2020?
Homework Answers
| After Tax Profit | 39700 | |||
| Income Before Tax | 61076.92 | |||
| ($19492/(1-0.35) | ||||
| New Fixed cost = $88600-19492 =69108 | ||||
| On the basis if details we can form following equation | ||||
| $61076.92 = 0.38R -69108 | ||||
| 130184.92 =0.38R | ||||
| R =342591.89 | ||||
| Revenue = $342591.89 | ||||
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