Am I losing it, or why don’t you start with Net Income (120) do do this calculation? I have the calculation as follows: NI + Dep - FCinv - WCinv + Net Borrowing 120 + 82.50 - 165.30 + 1.80 + 12.50 = 51.50 Can someone tell me what I’m doing wrong here please? For what should be an easy problem, this is driving me crazy!!!
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I think i just figured it out, I need to adjust for the new tax rate. Missed that. Thanks!
thegooddocta Wrote: ------------------------------------------------------- > I think i just figured it out, I need to adjust > for the new tax rate. Missed that. > > Thanks! Yeah, I did the same thing as you and couldn’t figure out what I did wrong. Adjusting the tax rate…that is pretty tricky by the CFAI…
Thank you guys for this post. This problem has been driving me crazy and I would have never seen the sly change in tax rates.