XYZ is evaluating a project that would require the purchase of a piece of equipment for $580,000 today. During year 1, the project is expected to have relevant revenue of $756,000, relevant costs of $199,000, and relevant depreciation of $136,000. XYZ would need to borrow $580,000 today to pay for the equipment and would need to make an interest payment of $30,000 to the bank in 1 year. Relevant net income for the project in year 1 is expected to be $322,000. What is the tax rate expected to be in year 1?

O A rate equal to or greater than 19.95% but less than 24.42%

O A rate equal to or greater than 28.03% but less than 37.53%

A rate equal to or greater than 37.53% but less than 51.10%

O A rate equal to or greater than 24.42% but less than 28.03%

O A rate less than 19.95% or a rate greater than 51.10%