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10. The Diamond Manufacturing Company earned $750,000 before tax this year. Using the following corporate tax rates, answer the questions below: Rate 15% 25% Income
10. The Diamond Manufacturing Company earned $750,000 before tax this year. Using the following corporate tax rates, answer the questions below: Rate 15% 25% Income $1 - 50,000 $50,001 - 75,000 $75,001 - 100,000 $100,001 - 335,000 $335,001 - 10,000,000 $10,000,001 - 15,000,000 $15,000,001 - 18,333,333 over $18,333,333 34% 39% 34% 35% 38% 35% a. What is Diamond's tax liability? b. What is Diamond's average tax rate? c. What is Diamond's marginal tax rate
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