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0. A sole proprietorship has just distributed $500,000 in profits to its single owner. Since the business is run as a proprietorship, the company's profits

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0. A sole proprietorship has just distributed $500,000 in profits to its single owner. Since the business is run as a proprietorship, the company's profits will be taxed as individual income. Assume that income taxes follow the simplified tax schedule below. What will be the owner's effective (i.e., average) tax rate? A. 21.3% B. 26.5% (C) 27.5%

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