f the federal income tax rate is 35% and the state tax rate is 5% (and state
Question:
f the federal income tax rate is 35% and the state tax rate is 5% (and state taxes are deductible from federal taxes), the effective income tax rate is
(a) 35%
(b) 37.5%
(c) 38.3%
(d) 40%
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Related Book For
Engineering Economy
ISBN: 978-0133439274
16th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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