Question: Using the tax table provided in Figure 10.3, determine the average and marginal tax rates for a company that earned $17.25 million in taxable income.

Using the tax table provided in Figure 10.3, determine the average and marginal tax rates for a company that earned $17.25 million in taxable income. Average rate =34.25%; Marginal rate =38.00% Average rate =34.81%; Marginal rate =38.00% Average rate =35.00%; Marginal rate =35.00% Average rate =38.00%; Marginal rate =34.81% \begin{tabular}{cc} Marginal Tax Rate & Taxable Income Psrtion Subject to \\ \hline 15% & 0$50,000 \\ 25% & $50,001$75,000 \\ 34% & $75,001$100,000 \\ 39% & $100,001$335,000 \\ 34% & $335,001$10,000,000 \\ 35% & $10,000,001$15,000,000 \\ 38% & $15,000,001$18,333,333 \\ 35% & $18,333,333+ \end{tabular}
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