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GMX Resources, an independent oil and gas exploration and production company, has a tax rate of 38%. If it purchases $2,000,000 of drilling pipe, what is the after-tax cost of this expenditure? (Points : 1) $760,000 $1,240,000 $2,000,000 $2,760,000

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GMX Resources, an independent oil and gas exploration and production company, has a tax rate of 38%. If it purchases $2,000,000 of drilling pipe, what is the after-tax cost of this expenditure? (Points : 1)

       $760,000

       $1,240,000

       $2,000,000

       $2,760,000

 
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