Determine the single-value effective tax rate for a corporation that has a federal tax rate of 35%

Question:

Determine the single-value effective tax rate for a that has a federal tax rate of 35% and a state tax rate of 5%.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...