Mr. and Mrs. Khalid’s taxable income from their business has been stable for the past five years, and their average federal income tax rate has ranged between 22 and 24 percent. Because of a boom in the local economy, the couple estimates that their business will generate an additional $100,000 taxable income next year. In making their cash flow projections, they estimate that their federal income tax cost with respect to this incremental income will be $24,000.