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The Millennium Chemical Corporation announced that for the period ending December 31, 2013, it earned income after taxes of $2,768,028 on revenues of $13,144,680. The company's costs (excluding depreciation and amortization) amounted to 61% of revenues, and Millennium had interest expenses of $392,168. What is the firm's depreciation and amortization expense if its tax rate was 34 percent?

a. $ 540,275

b. $ 486,290

c. $ 739,184

d. $ 958,083

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Accounting Basics, Accounting

Category:- Accounting Basics
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