Question: Note: The following information should be used for multiple choice questions 13. Following is a partial corporate income tax schedule: Marginal Tax Rate Taxable Income
Note: The following information should be used for multiple choice questions 13. Following is a partial corporate income tax schedule: Marginal Tax Rate Taxable Income Beginning Ending Amount Amount $1 $50,000 $50,000 $75,000 $75,000 $100,000 Bracket Amount $50,000 $25,000 $25,000 0.15 0.25 0.34 13. The average tax rate for a corporation with taxable income of $100,000 would be: a. 15.0% b. 16.75% c. 20.0% d. 22.25% e. 25.0%
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