... Equity 2004: $557, 632 MVA04 = $600,000 - $557, 632 = $42 ,36 8 MVA 03 = $850,000 - $6 63, 768 = $186, 232 3 - 28 Key Features of the Tax Code Corporate Taxes Individual Taxes - 29 20 03 Corporate Tax ... 3- 2 Income Statement 20 03 2004 Sales 5, 834 ,400 COGS 4,980,000 Other expenses 720,000 Deprec 116,960 Tot op costs 5,816,960 3, 432 ,000 2,864,000 34 0,000 18,900 3, 222,900 3- 3 What happened ... 75,000 - 100,000 100,000 - 33 5,000 Over 18.3M Tax on Base 7,500 13, 750 22,250 6.4M Rate* 15% 25% 34 % 39 % 35 % *Plus this percentage on the amount over the bracket base 3 - 30 Features of Corporate...