Question: For a company that has $ 1 , 0 0 0 in taxable income and the tax rates are as follows: For taxable income up

For a company that has $1,000 in taxable income and the tax rates are as follows: For taxable income up to $800- tax rate =20% For income above $800- tax rate =40% What are the firm's average and marginal tax rates?
Group of answer choices
24% and 40%
20% and 20%
20% and 40%
40% and 40%

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