Question: please show all work and answer both A and B The U.S. Corporate Tax Rate Schedule is shown below. US. Corporate Tax Rate Schedule in
The U.S. Corporate Tax Rate Schedule is shown below. US. Corporate Tax Rate Schedule in 2016 Just like the tax system for individuals, the tax system for corponations in the United States is progressive. with mareinal tax rates ranging from 15 percent to as high as 39 percent. A.) What was the marginal tax rate of a corporation that had a taxable income of $10.445 million in 2016? B.) What was the average tax rate of a corporation that had a taxable income of $10.445 million in 2016? (Round answer to 1 decimal place, e.g. 17.5\%.)
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