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12- A major industrialized state has a state corporate tax rate of 9.6% of taxable income. If a corporation has a state taxable income of

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12- A major industrialized state has a state corporate tax rate of 9.6% of taxable income. If a corporation has a state taxable income of $275,000, what is the total state and federal income tax it must pay? Also, compute 6 its combined incremental state and federal income tax rate

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