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Question Completion Status: 4 5 6 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 26 .> Moving to another question will save this response. Question 25 Which one of the following is not a cost element in manufacturing a product? O Manufacturing overhead Direct materials O Office salaries O Direct labor A Moving to another question will save this response.2 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 213 24 25 .> A Moving to another question will save this response. Question 26 Which of the following is not a characteristic of an S corporation? O Owners have limited liability The corporation is taxed directly on operating income O The corporation can have no more than 100 shareholders O Shareholders must consent to the $ election by the corporation > Moving to another question will save this response.Remaining Time: 54 minutes, 59 seconds. *Question Completion Status: 5 6 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 > Moving to another question will save this response Question 27 The Mercury Corporation must decide whether to invest in some new machinery for its business. Which tax rate is the most relevant for making this decision? O The average tax rate The marginal tax rate O The nominal tax rate O The effective tax rate Moving to another question will save this response