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A company pays tax at a rate of 15% on its first $50,000 of income. If it has $60,000 of taxable income and an average
A company pays tax at a rate of 15% on its first $50,000 of income. If it has $60,000 of taxable income and an average tax rate of 18%, what is the marginal tax rate on its last $10,000 of income?
a. 15%
b. 33%
c. 18%
d. 25%
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