Given the information in the table, what is the average tax rate of a corporation with a
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Question:
Given the information in the table, what is the average tax rate of a corporation with a $70,000 taxable income?
Taxable Income, Dollars Tax Rate (%)
0-50,000 15%
50,001-75,000 25%
75,001-100,000 34%
a. 22.75%
b.17.86%
c. 18.33%
d. 25%
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