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9) Your company generated $300,000 in taxable income for 2015. Assume that your average Federal tax rate is 22% and your State tax rate is

9) Your company generated $300,000 in taxable income for 2015. Assume that your average Federal tax rate is 22% and your State tax rate is 6%.

a. What is your combined tax rate? _____________

b. How much Federal tax do you owe?

c. How much State tax do you owe?

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