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9.51 Acorporation has the following financial information for a typical operating year. Gross revenue $6,500,000 Cost of goods sold 3,450,000 Operating costs 650,000 Federal taxes
9.51 Acorporation has the following financial information for a typical operating year. Gross revenue $6,500,000 Cost of goods sold 3,450,000 Operating costs 650,000 Federal taxes 332,000 State taxes 193,120 a. On the basis of this financial information, determine both federal and state marginal tax rates. b. Determine the combined marginal tax rate for this corporation
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