Question: Know the difference between average and marginal tax rates and how to calculate them given a tax schedule. Ex. 13 The tax rates are as

Know the difference between average and marginal tax rates and how to calculate them given a tax schedule. Ex. 13 The tax rates are as shown. Taxable Income Tax Rate $0 - 50,000 15% 50,001 - 75,000 25% 75,001 - 100,000 34% 100,001 - 335,000 39% What is the average tax rate for a firm with taxable income of $138,386? Marginal Rate?

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